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23 Jun 2015
USD/JPY extends gains beyond 124.00
FXStreet (Córdoba) - USD/JPY broke above 124.00 and extended gains to fresh weekly highs as the dollar was lifted by hawkish comments from a Fed official, who suggested the Fed could begin raising rates in September and could hike again in December if economy continues to grow.
The dollar shrugged off disappointing durable goods orders and rose to a high of 124.18 following Fed Powell’s remarks. At time of writing, the pair is trading at 124.11, recording a 0.62% gain on Tuesday.
USD/JPY levels to watch
As for technical levels, next resistances are seen at 124.44 (Jun 17 high), 124.60 (Jun 10 high) and 124.73 (Jun 9 high). On the other hand, supports could be found at 123.33/26 (Jun 23 low/10-day SMA), 123.00 (psychological level) and 122.55 (Jun 22 & 19 low).
The dollar shrugged off disappointing durable goods orders and rose to a high of 124.18 following Fed Powell’s remarks. At time of writing, the pair is trading at 124.11, recording a 0.62% gain on Tuesday.
USD/JPY levels to watch
As for technical levels, next resistances are seen at 124.44 (Jun 17 high), 124.60 (Jun 10 high) and 124.73 (Jun 9 high). On the other hand, supports could be found at 123.33/26 (Jun 23 low/10-day SMA), 123.00 (psychological level) and 122.55 (Jun 22 & 19 low).