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4 Mar 2015
USD/JPY flattish below 120.00
FXStreet (Mumbai) - The US dollar reversed losses and steadies against the Japanese dollar in the European morning as traders now remain cautious ahead of US jobs data later today.
USD/JPY trades around 5-DMA
Currently, the USD/JPY traded flat at 119.77 levels, having previously hit fresh session highs at 119.82 levels. The pair extends its side-trend consolidation phase, failing to rise above 120 levels, as a generalized risk-off sentiments amid lower global equities keep the safe-haven bids for the yen intact.
However, the US dollar is expected to regain strength on the back of higher 10-year treasury yields, firming above 2.13%. Meanwhile, traders now brace for the main driver for the pair – US employment data, which may provide fresh incentives in the day ahead.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120 levels and above which it could extend gains 120.27 (March 3 High) levels. To the downside immediate support might be located at 119.42 (10-DMA) levels, below that at 119.25 (20-DMA) levels.
USD/JPY trades around 5-DMA
Currently, the USD/JPY traded flat at 119.77 levels, having previously hit fresh session highs at 119.82 levels. The pair extends its side-trend consolidation phase, failing to rise above 120 levels, as a generalized risk-off sentiments amid lower global equities keep the safe-haven bids for the yen intact.
However, the US dollar is expected to regain strength on the back of higher 10-year treasury yields, firming above 2.13%. Meanwhile, traders now brace for the main driver for the pair – US employment data, which may provide fresh incentives in the day ahead.
USD/JPY Technical Levels
To the upside, the next resistance is located at 120 levels and above which it could extend gains 120.27 (March 3 High) levels. To the downside immediate support might be located at 119.42 (10-DMA) levels, below that at 119.25 (20-DMA) levels.