OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY remains capped by 118.40

FXStreet (Córdoba) - USD/JPY resumed the advance Monday after last week’s corrective move was contained by the 117.35 zone.

USD/JPY regained the 118.00 level and climbed to a high of 118.37, stalling roughly at the same level it did the previous trading day. At time of writing, the pair is trading at 118.20, recording a 0.37% gain on the day.

The yen strengthened last week and dragged USD/JPY away from a 7-year peak of 118.97 after Japan’s finance minister expressed his concerns about rapid depreciation of the currency.

USD/JPY levels to watch

As for technical levels, next resistances line up at 118.37 (Nov 21 & 24 highs), 118.97 (2014 high Nov 20) and 119.00 (psychological level). On the other hand, supports could be found at 117.57 (daily low), 117.35 (Nov 21 low) and 117.00 (psychological level).

GBP/USD consolidating midrange – FXStreet

Valeria Bednarik, Chief Analyst at FXStreet, sees pound consolidating against USD and anticipates it to hold the 1.5590-1.5740 range until BOE’s statement on inflation this Tuesday .
Read more Previous

German IFO surprised on the upside – BBH

Mark Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, notes that in terms of economic data, today’s German IFO surprised on the upside, helping the euro regain the $1.24 level against the dollar.
Read more Next
Start livechat