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15 May 2015
USD/JPY extends rally towards 120.00
FXStreet (Tokyo) - The US dollar is trading higher against the Japanese Yen and after climbing 50 pips in the European session, the USD/JPY broke above the 200-hour MA at 119.70 and it is now trading at 2-day highs just below 120.00.
Currently, USD/JPY is trading at 119.79, up 0.54% on the day, having posted a daily high at 119.83 and low at 119.15. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
2-yr yields on T-notes scaled higher by 1.51% and now trades at 0.552%. Rising treasury yields have eventually translated into a higher US dollar across the board.
USD/JPY levels
If the pair consolidates levels above 119.80, it will find resistances at 120.00 and 120.20. To the downside, supports are at 119.70, 119.55 and 119.30.
As for reference, Mike Paterson from ForexLive reported options expiries at the NY cut today at "USDJPY 119.00 (USD 220m), 119.75 (216m) and 120.50-55 (1bln)".
Currently, USD/JPY is trading at 119.79, up 0.54% on the day, having posted a daily high at 119.83 and low at 119.15. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
2-yr yields on T-notes scaled higher by 1.51% and now trades at 0.552%. Rising treasury yields have eventually translated into a higher US dollar across the board.
USD/JPY levels
If the pair consolidates levels above 119.80, it will find resistances at 120.00 and 120.20. To the downside, supports are at 119.70, 119.55 and 119.30.
As for reference, Mike Paterson from ForexLive reported options expiries at the NY cut today at "USDJPY 119.00 (USD 220m), 119.75 (216m) and 120.50-55 (1bln)".