Back
20 May 2015
USD/JPY clings to 121.00
FXStreet (Córdoba) - In the absence of news, USD/JPY consolidates around the 121 mark at the beginning of the New York session while investors await the FOMC meeting minutes.
USD/JPY advanced during the Asian trade and hit a 2-month peak of 121.09 before finding resistance and entering a consolidation phase. The pair has spent the last hours in a slim range around the psychological level, unable to pick up momentum either side of the board.
Investors focus remains on FOMC minutes to be released at 18:00 GMT, as they continue to scrutinize Fed’s words for signs about the timing the Fed “ift-off”.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at 120.98, recording a 0.27% gain on the day. On the upside, immediate resistances are seen at 121.09 (daily high), 121.20 (Mar 20 high) and 121.40 (Mar 17 high). On the flip side, supports could be found at 120.58 (daily low) and 120.00 (psychological level).
USD/JPY advanced during the Asian trade and hit a 2-month peak of 121.09 before finding resistance and entering a consolidation phase. The pair has spent the last hours in a slim range around the psychological level, unable to pick up momentum either side of the board.
Investors focus remains on FOMC minutes to be released at 18:00 GMT, as they continue to scrutinize Fed’s words for signs about the timing the Fed “ift-off”.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at 120.98, recording a 0.27% gain on the day. On the upside, immediate resistances are seen at 121.09 (daily high), 121.20 (Mar 20 high) and 121.40 (Mar 17 high). On the flip side, supports could be found at 120.58 (daily low) and 120.00 (psychological level).