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9 Sep 2015
USD/JPY keeps highs near 120.40
FXStreet (Edinburgh) - The greenback is sharply appreciating against its Japanese counterpart on Wednesday, taking USD/JPY to the area of daily tops near 120.40.
USD/JPY firmer on risk appetite
The risk-on sentiment has kicked in early on Wednesday, with Asian bourses and commodities closing in a ‘sea of green’ amidst increasing JPY selling ahead of the opening bell in Europe.
In the data front, Japanese Consumer Confidence climbed to 41.7 for the month of August, surpassing both estimates and previous readings. On the US side, second-tier releases are only due today: Mortgage Applications by MBA and JOLTS Job Openings.
USD/JPY levels to watch
As of writing the pair is up 0.54% at 120.45 facing the next up barrier at 120.58 (high Sep.3) followed by 120.92 (high Sep.1) and finally 121.75 (high Aug.28). On the flip side, a breakdown of 119.80 (low Sep.9) would expose 118.58 (low Sep.4) and then 118.45 (low Aug.25).
USD/JPY firmer on risk appetite
The risk-on sentiment has kicked in early on Wednesday, with Asian bourses and commodities closing in a ‘sea of green’ amidst increasing JPY selling ahead of the opening bell in Europe.
In the data front, Japanese Consumer Confidence climbed to 41.7 for the month of August, surpassing both estimates and previous readings. On the US side, second-tier releases are only due today: Mortgage Applications by MBA and JOLTS Job Openings.
USD/JPY levels to watch
As of writing the pair is up 0.54% at 120.45 facing the next up barrier at 120.58 (high Sep.3) followed by 120.92 (high Sep.1) and finally 121.75 (high Aug.28). On the flip side, a breakdown of 119.80 (low Sep.9) would expose 118.58 (low Sep.4) and then 118.45 (low Aug.25).