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20 Apr 2015
USD/JPY extends gains above 119.00
FXStreet (Córdoba) - USD/JPY gained momentum during the American session and broke above 119.15. The pair printed a fresh daily high at 119.35, hitting the highest level since last Thursday.
The pair is rising for the first time after posting losses during the previous six trading days. The US dollar was able to make a reversal after falling earlier to 118.52 (3-week low). From the lows it has risen 80 pips as stocks in Wall Street rise more than 1% on average.
USD/JPY near important short term resistance
The recent rally brought the pair near the 119.40 area, that is an important short term resistance, that capped the upside several times last week. Above here the next resistance could be located at 119.70 (Apr 13 low) and 120.00. On the opposite direction support might lie at 118.75, 118.55 (daily low) and 118.30/35 (March 26 low).
The pair is rising for the first time after posting losses during the previous six trading days. The US dollar was able to make a reversal after falling earlier to 118.52 (3-week low). From the lows it has risen 80 pips as stocks in Wall Street rise more than 1% on average.
USD/JPY near important short term resistance
The recent rally brought the pair near the 119.40 area, that is an important short term resistance, that capped the upside several times last week. Above here the next resistance could be located at 119.70 (Apr 13 low) and 120.00. On the opposite direction support might lie at 118.75, 118.55 (daily low) and 118.30/35 (March 26 low).