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19 Mar 2015
USD/JPY flirting with 121.00
FXStreet (Edinburgh) - The greenback keeps pushing higher on Thursday, now lifting USD/JPY to the boundaries of 121.00 the figure.
USD/JPY focus on BoJ
The pair has been climbing since FOMC-induced lows around 119.60 overnight, managing to quickly leave behind the 120.00 barrier and now on its way to 121.00. The solid tone from the greenback after the deep pullback in the first half of the week remains the sole driver backing the upside.
Next on tap in Japan will be the BoJ minutes, with consensus expecting quite a neutral tone; whereas the speech by Fed’s Lockhart will be the only event in the US economy.
USD/JPY levels to watch
At the moment the pair is advancing 0.68% at 120.94 with the next hurdle at 121.22 (200-h MA) ahead of 121.41 (high Mar.17) and finally 121.57 (high Mar.13). On the downside, a break below 119.68 (low Mar.19) would expose 119.28 (low Mar.18) and then 119.11 (low Feb.27).
USD/JPY focus on BoJ
The pair has been climbing since FOMC-induced lows around 119.60 overnight, managing to quickly leave behind the 120.00 barrier and now on its way to 121.00. The solid tone from the greenback after the deep pullback in the first half of the week remains the sole driver backing the upside.
Next on tap in Japan will be the BoJ minutes, with consensus expecting quite a neutral tone; whereas the speech by Fed’s Lockhart will be the only event in the US economy.
USD/JPY levels to watch
At the moment the pair is advancing 0.68% at 120.94 with the next hurdle at 121.22 (200-h MA) ahead of 121.41 (high Mar.17) and finally 121.57 (high Mar.13). On the downside, a break below 119.68 (low Mar.19) would expose 119.28 (low Mar.18) and then 119.11 (low Feb.27).