5 Mar 2015
USD/JPY consolidates above 120.00
FXStreet (Córdoba) - USD/JPY entered a consolidation phase during the American afternoon after being rejected from fresh 3-year highs as investors shift their attention to the nonfarm payrolls report.
USD/JPY reached a daily peak of 120.40 before facing selling pressure on the back of disappointing US jobless claims and factory orders figures. However, the downside was contained by the 119.95 confining the pair to a quieter phase ahead of US jobs numbers.
US economy is expected to have added 240,000 new jobs in February following a 257,000 gain in January, while the unemployment rate is seen edging lower to 5.6%.
USD/JPY technical levels
As for technical levels, if USD/JPY breaks above 120.40, next resistances are seen at 120.81 (Dec 23 high) and 121.00 (psychological level). On the other hand, supports could be found at 119.46/43 (Mar 4 low/10-day SMA), 119.16 (21-day SMA) and 119.00 (psychological level).
USD/JPY reached a daily peak of 120.40 before facing selling pressure on the back of disappointing US jobless claims and factory orders figures. However, the downside was contained by the 119.95 confining the pair to a quieter phase ahead of US jobs numbers.
US economy is expected to have added 240,000 new jobs in February following a 257,000 gain in January, while the unemployment rate is seen edging lower to 5.6%.
USD/JPY technical levels
As for technical levels, if USD/JPY breaks above 120.40, next resistances are seen at 120.81 (Dec 23 high) and 121.00 (psychological level). On the other hand, supports could be found at 119.46/43 (Mar 4 low/10-day SMA), 119.16 (21-day SMA) and 119.00 (psychological level).