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USD/JPY strikes 105.00

FXStreet (Córdoba) - The USD/JPY has been building on Asian session’s gains and managed to strike the 105.00 psychological level where it printed its highest in near 8 months.

The US dollar is the best performer Tuesday, having reached fresh multi-month highs versus its main competitors. Against the yen, its climbed to a high of 105.01, last seen Jan 10, but lacked follow-through to break above the psychological level and settled right below. At time of writing, the USD/JPY is trading at 104.92, recording a 0.37% gain on the day.

Today the US docket includes the ISM manufacturing PMI and the IBD/TIPP economic optimism index. However, main focus remains on the ECB decision Thursday and the US nonfarm payrolls Friday.

USD/JPY technical outlook

“The uptrend here is intact, heading for a tight test of 105.40 high”, said Stoyan Mihaylov, analyst at Deltastock. “Initial intraday support lies at 104.40”.

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