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11 May 2015
USD/JPY below 119.85, today's Pivot Point
FXStreet (Tokyo) - The USD/JPY was unable to successfully break above 120.00 as the USD is not strong enough to drive the pair up. Currently, USD/JPY is trading at 119.83, up 0.06% on the day, having posted a daily high at 120.05 and low at 119.64.
USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bullish.
USD/JPY forecast
According to the FXStreet USDJPY Forecast Poll, "with the pair faltering repeatedly around 120.00, bullish hopes have decreased and investors downgraded their expectations."
In the same line, Market Analyst at Hantec Markets Richard Perry comments that "the range has tightened to between 118.30/120.84. With little sign of any break of this consolidation continue to play the range until a closing breakout.
On the other side, Analyst at Forex Crunch Yohay Elam states that as "the BOJ is failing on its inflation target, the USD could make a fresh rise".
US dollar to Yen levels
If the pair extends losses below 119.85, it will find supports at 119.70 and 119.50. To the Upside, resistances are at 120.00, 120.20 and 120.50.
USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bullish.
USD/JPY forecast
According to the FXStreet USDJPY Forecast Poll, "with the pair faltering repeatedly around 120.00, bullish hopes have decreased and investors downgraded their expectations."
In the same line, Market Analyst at Hantec Markets Richard Perry comments that "the range has tightened to between 118.30/120.84. With little sign of any break of this consolidation continue to play the range until a closing breakout.
On the other side, Analyst at Forex Crunch Yohay Elam states that as "the BOJ is failing on its inflation target, the USD could make a fresh rise".
US dollar to Yen levels
If the pair extends losses below 119.85, it will find supports at 119.70 and 119.50. To the Upside, resistances are at 120.00, 120.20 and 120.50.