USDJPY advanced to fresh highs for the day as the greenback pick up pace over the last
minutes, although it remains well within its last week range.
USD/JPY
broke above the 100-hour SMA and reached a daily peak of 120.77 in recent
dealings. At time of writing, the pair was trading at 120.70, recording a 0.30%
rise since opening.
Despite intraday volatility, USD/JPY continues to
move back and forth between 120-121.50 unable to set longer-term
directions.
USD/JPY levels to watch
In terms of
technical levels, next resistances for USD/JPY are seen at 121.00/03
(psychological level/200-day SMA), 121.47/0 (Oct 30 & 26 highs), and then
121.77/80 (61.8% Fibo retracement of 125.27-116.16/100-day SMA). On the flip
side, supports could be faced at 120.15 (50-day SMA), and 120.00 (psychological
level/Oct 28 low) ahead of 119.60 (Oct 22 low).
USD/JPY 2015-11-02T16:30:00
120.711/120.717 (0.0115976605861%)
H120.74 L120.695
