Back

USD/JPY bounces-back, eyes 120 handle

FXStreet (Mumbai) - The US dollar rebounded against the Japanese yen from close to one week lows as US dollar bulls took lead in the slow European session as Japanese markets remains closed for an extended year-end holiday season.

Currently, the USD/JPY pair trades now at 119.66 levels, up 0.16% on the day, bouncing off from day’s low of 119.25 levels hit in the Asian session. The Japanese yen erased gains on rising demand for US dollar ahead of year-end holidays. Moreover, US dollar’s recovery versus other major currencies also contributed to the gains in the USD/JPY pair.

USD/JPY Technical Levels

To the upside, the next resistance is located at 120.09 (Dec 22 High) levels and above which it could extend gains 120.50 levels. To the downside immediate support might be located at 118.84 (Dec 30 Low) levels, below that at 118.23 (Dec 18 Low) levels.

Sell USD/JPY holiday Volatility – ORE

Merav Brenner of ORE explains that implementing the Butterfly strategy using options can be a profitable trade for the USD/JPY holiday volatility.
Devamını oku Previous

UK data preview: Industrial production might surprise to the upside – TDS

The TD Securities Team highlight the key UK data in the upcoming week, anticipating Industrial Production to show an upside tick with a 0.5% mom gain.
Devamını oku Next