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8 Mar 2013
Forex: USD/JPY keeps pushing higher
The Japanese yen continues its relentless depreciation against its rivals on Friday, pushing USD/JPY to fresh multi-year highs above 95.50, levels last seen in mid 2009
Against the backdrop of the US labour market releases, Currency Analyst at BTMU Dereck Halpenny commented, “The break of 95.00 is obviously bullish and barring a disastrous payrolls report USD/JPY has scope to drift further higher”.
As of writing, the pair is up 0.80% at 95.59 and a break above the psychological level of 96.00 would then target 96.80 (high Aug.12 2009) and then 97.15 (high Aug.11 2009).
On the flip side, support barriers line up at 94.79 (low Mar.8) followed by 94.00 (psychological level) and finally 93.79 (low Mar.7).
Against the backdrop of the US labour market releases, Currency Analyst at BTMU Dereck Halpenny commented, “The break of 95.00 is obviously bullish and barring a disastrous payrolls report USD/JPY has scope to drift further higher”.
As of writing, the pair is up 0.80% at 95.59 and a break above the psychological level of 96.00 would then target 96.80 (high Aug.12 2009) and then 97.15 (high Aug.11 2009).
On the flip side, support barriers line up at 94.79 (low Mar.8) followed by 94.00 (psychological level) and finally 93.79 (low Mar.7).