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USD/JPY settles below 115.00

FXStreet (Córdoba) - USD/JPY steadied below the 115 mark during the American session after the nonfarm payrolls rollercoaster.

USD/JPY touched a fresh 7-year high of 115.56 as soon as the data came out, but failed to sustain gains and retreated over a hundred pips toward the 114.45 area before finding support area before settling in a range.

USD/JPY however, remains on track for its third weekly gain in a row as diverging monetary outlooks has supported dollar’s strong rally. USD/JPY is more than 700 pips higher than it was prior to the release of the FOMC statement, having steepened gains after BoJ surprised markets by announcing further easing.

USD/JPY technical levels


As for technical levels, USD/JPY could find next resistances at 115.56 (2014 high Nov 7), 115.91 (Nov 1 2007 high) and then 116.00 (psychological level). On flip side, supports are seen at 114.45 (Nov 7 low) and 114.12 (Nov 6 low) ahead of 114.00 (psychological level).

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