Back
16 Jan 2015
USD/JPY moves away from 1-Month Lows, back above 116
FXStreet (Mumbai) - USD/JPY remained elevated in the Asian morning, pulling away slightly from fresh one month lows of 115.86 posted an hour ago.
Currently, the USD/JPY pair traded flat at 116.21, having clocked intraday high at 116.56 earlier in the session. The Japanese yen strengthened against the greenback yesterday and broke below the 116 mark, after the USD tumbled versus most of its major peers on the Swiss National Bank's (SNB) decision to end the EUR/CHF peg. The news immediately sent the currency markets into chaos.
Meanwhile as markets stabilize, traders now turn their attention towards the crucial US inflation numbers for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 117.05 levels and above which it could extend gains 117.94 levels. To the downside immediate support might be located at 115.71 levels, below that at 115.44 levels.
Currently, the USD/JPY pair traded flat at 116.21, having clocked intraday high at 116.56 earlier in the session. The Japanese yen strengthened against the greenback yesterday and broke below the 116 mark, after the USD tumbled versus most of its major peers on the Swiss National Bank's (SNB) decision to end the EUR/CHF peg. The news immediately sent the currency markets into chaos.
Meanwhile as markets stabilize, traders now turn their attention towards the crucial US inflation numbers for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 117.05 levels and above which it could extend gains 117.94 levels. To the downside immediate support might be located at 115.71 levels, below that at 115.44 levels.