25 May 2015
USD/JPY clings to 121.50
FXStreet (Córdoba) - After being rejected from a 2 ½-month high of 121.77, USD/JPY settled around 121.50, having spent the last hours inside a narrow range amid quiet, thinned-holiday trading.
The dollar pushed higher during the Asian session, extending Friday’s CPI propelled gains, but found resistance and eased from highs. The downside was contained by 121.45, leaving the pair confined to a 10-pip range. At time of writing, USD/JPY is trading at 121.49, virtually unchanged on the day.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate resistances at 121.55 (intraday resistance/21-hour SMA), 121.77 (daily high) and 122.02 (Mar 10 high). On the other hand, supports are seen at 121.45 (daily low), 121.00 (psychological level) and 120.63 (May 22 low).
The dollar pushed higher during the Asian session, extending Friday’s CPI propelled gains, but found resistance and eased from highs. The downside was contained by 121.45, leaving the pair confined to a 10-pip range. At time of writing, USD/JPY is trading at 121.49, virtually unchanged on the day.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate resistances at 121.55 (intraday resistance/21-hour SMA), 121.77 (daily high) and 122.02 (Mar 10 high). On the other hand, supports are seen at 121.45 (daily low), 121.00 (psychological level) and 120.63 (May 22 low).