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5 May 2015
USD/JPY climbs to session highs
FXStreet (Edinburgh) - The Japanese yen keeps depreciating vs. its American counterpart on Tuesday, now lifting USD/JPY to fresh daily tops near 120.40.
USD/JPY in 3-week peaks
The pair continues to trade in the upper bound of the recent range, testing levels last seen in mid-April ahead of the US docket due later. The renewed upside in the US dollar following last week’s sell off is fuelling the better momentum in spot, bolstered at the same time by a good performance in US Treasuries.
In the data space, US Services PMI by Markit, the ISM Non-manufacturing and March’s trade balance figures are due later, with consensus expecting the Services sector to come in unchanged from previous readings and the trade deficit to have widened to $40.3 billion in March.
USD/JPY levels to watch
The pair is now up 0.17% at 120.37 facing the next resistance at 120.84 (high Apr.13) ahead of 121.00 (psychological level) and then 121.16 (76.4% of 122.04-118.33). On the downside, a breach of 120.03 (low May 5) would open the door to 120.00 (low May 4) and finally 119.98 (cloud top).
USD/JPY in 3-week peaks
The pair continues to trade in the upper bound of the recent range, testing levels last seen in mid-April ahead of the US docket due later. The renewed upside in the US dollar following last week’s sell off is fuelling the better momentum in spot, bolstered at the same time by a good performance in US Treasuries.
In the data space, US Services PMI by Markit, the ISM Non-manufacturing and March’s trade balance figures are due later, with consensus expecting the Services sector to come in unchanged from previous readings and the trade deficit to have widened to $40.3 billion in March.
USD/JPY levels to watch
The pair is now up 0.17% at 120.37 facing the next resistance at 120.84 (high Apr.13) ahead of 121.00 (psychological level) and then 121.16 (76.4% of 122.04-118.33). On the downside, a breach of 120.03 (low May 5) would open the door to 120.00 (low May 4) and finally 119.98 (cloud top).