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10 Sep 2015
USD/JPY looking to stabilize around 120.80
FXStreet (Edinburgh) - The Japanese yen remains on a weak note vs. its American peer on Thursday, with USD/JPY now sidelining around the 120.80 area.
USD/JPY retreats from 121.30
The pair has been rejected twice from the 121.30 area, which corresponds to the spike following comments on the need for further BoJ easing by Yamamoto in early trade.
The lack of more solid buying interest around the US dollar has been plotting against a more sustainable break above the 121.00 mark today, with a downbeat tone of US Treasuries removing a significant tailwind for the upside in the greenback.
USD/JPY levels to watch
As of writing the pair is up 0.23% at 120.80 facing the next up barrier at 121.33 (high Sep.10) followed by 121.75 (high Aug.27) and finally 122.05 (high Aug.23). On the flip side, a breakdown of 119.80 (low Sep.9) would expose 118.58 (low Sep.4) and then 118.45 (low Aug.25).
USD/JPY retreats from 121.30
The pair has been rejected twice from the 121.30 area, which corresponds to the spike following comments on the need for further BoJ easing by Yamamoto in early trade.
The lack of more solid buying interest around the US dollar has been plotting against a more sustainable break above the 121.00 mark today, with a downbeat tone of US Treasuries removing a significant tailwind for the upside in the greenback.
USD/JPY levels to watch
As of writing the pair is up 0.23% at 120.80 facing the next up barrier at 121.33 (high Sep.10) followed by 121.75 (high Aug.27) and finally 122.05 (high Aug.23). On the flip side, a breakdown of 119.80 (low Sep.9) would expose 118.58 (low Sep.4) and then 118.45 (low Aug.25).