USD/JPY Current price: 120.55
View Live Chart for the USD/JPY
The USD/JPY advanced just a few pips above its former daily high and reached 120.63 with the news, a really shallow advanced taking into account the positive surprise triggered by US GDP data. The 1 hour chart shows that the price is now above its 100 SMA, and above the 50% retracement of these last two weeks decline around 120.30, the immediate support. In the same chart, the technical indicators head higher above their mid-lines, but lack upward momentum. In the 4 hours chart, the upside seems a bit more constructive, with the immediate bullish target at 121.00 the 100 DMA, followed by 121.35, the 61.8% retracement of the same rally.
Support levels: 120.30 119.90 119.60
Resistance levels: 121.00 121.35 121.70
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