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19 May 2015
USD/JPY rises further and hits 1-month highs
FXStreet (Córdoba) - The US dollar remains strong in the market on Tuesday supported by housing data from the United States. USD/JPY rose further after Wall Street opening bell and reached a 1-month high at 120.69.
The pair remains near the highs, rising for the fourth day in a row and headed toward the strongest close since March 19. Price is approaching April highs that lie at 120.80/85. A break higher would expose 121.00.
Despite the rally of USD/JPY, the yen is posting gains in the market, except versus the US dollar, that is consolidating important gains ahead of tomorrow's FOMC minutes.
USD/JPY technical levels
To the upside, resistance levels lie at 120.60/65 (daily high), 120.83 (March 13 high) and 121.05/10. On the opposite direction, support could be located at 120.30, 119.80/85 (daily low) and 119.50.
The pair remains near the highs, rising for the fourth day in a row and headed toward the strongest close since March 19. Price is approaching April highs that lie at 120.80/85. A break higher would expose 121.00.
Despite the rally of USD/JPY, the yen is posting gains in the market, except versus the US dollar, that is consolidating important gains ahead of tomorrow's FOMC minutes.
USD/JPY technical levels
To the upside, resistance levels lie at 120.60/65 (daily high), 120.83 (March 13 high) and 121.05/10. On the opposite direction, support could be located at 120.30, 119.80/85 (daily low) and 119.50.