USD/JPY Climbs Back to 109.00 Zone

USD/JPY Climbs Back to 109.00 Zone

16 May 2016, 20:41
Roberto Jacobs
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USD/JPY Climbs Back to 109.00 Zone

USD/JPY advanced during the American session and reached fresh daily highs in recent dealings, despite below expectations US data.

USD/JPY climbed back above the 109 mark and hit a daily peak of 109.08 before losing momentum. At time of writing, the pair was trading at 109.02, up 0.45% on the day. However, from a wider view, the pair continues to consolidate within last week’s range, moving alternatively one day up and the next down, unable to set longer-term direction.

USD/JPY levels to watch

As for technical levels, next resistances are seen at 109.54 (May 13 high), 110.11 (10-week SMA) and 110.42 (50-day SMA). On the other hand, supports could be found at 108.45 (May 16 low), 108.22 (May 12 low) and 108.05 (10-day SMA).


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