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24 Feb 2015
USD/JPY posts fresh session highs at 119.37
FXStreet (Mumbai) - USD/JPY extended gains in the European session, as traders eagerly await fresh insights on the future course of US Fed’s monetary policy from Yellen’s speech later in the session.
USD/JPY supported above 5-DMA
Currently, the USD/JPY trades higher by 0.45% 119.34 levels, having posted fresh session highs at 119.37 levels some minutes ago. The pair edged higher as the US dollar was strongly bid across the board as markets expect Yellen to hint at the possible rate hike in the summer of 2015.
Meanwhile, traders also focus on a set of US macro data due for release later for any major impact on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.44 levels and above which it could extend gains 119.91 levels. To the downside immediate support might be located at 119.04 (5-DMA) levels, below that at 118.58 (50-DMA) levels.
USD/JPY supported above 5-DMA
Currently, the USD/JPY trades higher by 0.45% 119.34 levels, having posted fresh session highs at 119.37 levels some minutes ago. The pair edged higher as the US dollar was strongly bid across the board as markets expect Yellen to hint at the possible rate hike in the summer of 2015.
Meanwhile, traders also focus on a set of US macro data due for release later for any major impact on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.44 levels and above which it could extend gains 119.91 levels. To the downside immediate support might be located at 119.04 (5-DMA) levels, below that at 118.58 (50-DMA) levels.