USD/JPY maintained its upside momentum in the European morning and wavered near fresh monthly highs after upbeat US jobs data continues to support the greenback.
USD/JPY eyes 120 mark
Currently, the USD/JPY traded higher by 0.11% at 119.57 levels, retreating slightly from fresh one month highs at 119.67 reached some time ago. The US dollar kept gains from the Asian session against the yen amid thin trading as Japan is closed today on a national holiday. USD/JPY is still riding still riding the wave of optimism spurred by US jobs numbers coming in at the highest level in 14 years.
Meanwhile, traders now shift their focus on a deluge of economic release from the US later this week for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.91 (Jan 9 High) levels and above which it could extend gains 120.25 (Dec 4 High) levels. To the downside immediate support might be located at 119.10 (5-DMA) levels, below that at 118.69 (50-DMA) levels.
USD/JPY eyes 120 mark
Currently, the USD/JPY traded higher by 0.11% at 119.57 levels, retreating slightly from fresh one month highs at 119.67 reached some time ago. The US dollar kept gains from the Asian session against the yen amid thin trading as Japan is closed today on a national holiday. USD/JPY is still riding still riding the wave of optimism spurred by US jobs numbers coming in at the highest level in 14 years.
Meanwhile, traders now shift their focus on a deluge of economic release from the US later this week for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.91 (Jan 9 High) levels and above which it could extend gains 120.25 (Dec 4 High) levels. To the downside immediate support might be located at 119.10 (5-DMA) levels, below that at 118.69 (50-DMA) levels.
