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15 May 2015
USD/JPY falters ahead of 120.00
FXStreet (Córdoba) - USD/JPY eased from daily highs at the beginning of the American session but overall the dollar remains higher on the day.
On the data front, the New York Fed's Empire State manufacturing index turned positive in May, rising to +3.09 from -1.19, although it was below the 5.0 expected. Later on the day, US industrial production figures and Reuters/Michigan consumer confidence are scheduled.
USD/JPY staged a nice recovery on Friday, rising more than 80 pips throughout the day to a 2-day peak of 119.92. However, the greenback lacked momentum extend gains and pulled back slightly. At time of writing, the pair is trading at 119.85, 0.60% above its opening price.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen at 119.92 (daily high), 120.00 (psychological level) and 120.27 (May 12 high). On the flip side, supports could be found at 119.32 (100-day SMA), 119.12 (daily low) and 118.88 (May 14 low).
On the data front, the New York Fed's Empire State manufacturing index turned positive in May, rising to +3.09 from -1.19, although it was below the 5.0 expected. Later on the day, US industrial production figures and Reuters/Michigan consumer confidence are scheduled.
USD/JPY staged a nice recovery on Friday, rising more than 80 pips throughout the day to a 2-day peak of 119.92. However, the greenback lacked momentum extend gains and pulled back slightly. At time of writing, the pair is trading at 119.85, 0.60% above its opening price.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen at 119.92 (daily high), 120.00 (psychological level) and 120.27 (May 12 high). On the flip side, supports could be found at 119.32 (100-day SMA), 119.12 (daily low) and 118.88 (May 14 low).