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27 May 2015
USD/JPY moves toward 124.00, makes fresh 8-year highs
FXStreet (Córdoba) - The dollar is extending gains into a fourth consecutive day versus the yen, having printed fresh 8-year highs on Wednesday following a steep rally the previous day.
USD/JPY resumed the rise after a brief dip to the 122.75 zone, and climbed to its highest level since June 25 2007 at 123.76 in recent dealings. At time of writing, the pair is trading at 123.70, recording a 0.49% gain on the day.
BOJ chief Kuroda said on Wednesday that is desirable that FX reflect economic fundamentals but refrained from making comments against weak JPY.
USD/JPY levels to watch
On the upside, next resistances are seen at 123.93 (Jun 25 2007 high) and 124.13 (Jun 22 2007 high). On the downside, supports could be found at 122.76 (daily low), 122.45 (intraday support May 26) and 122.00 (psychological level).
USD/JPY resumed the rise after a brief dip to the 122.75 zone, and climbed to its highest level since June 25 2007 at 123.76 in recent dealings. At time of writing, the pair is trading at 123.70, recording a 0.49% gain on the day.
BOJ chief Kuroda said on Wednesday that is desirable that FX reflect economic fundamentals but refrained from making comments against weak JPY.
USD/JPY levels to watch
On the upside, next resistances are seen at 123.93 (Jun 25 2007 high) and 124.13 (Jun 22 2007 high). On the downside, supports could be found at 122.76 (daily low), 122.45 (intraday support May 26) and 122.00 (psychological level).