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2 Jan 2015
USD/JPY rises above 120.50
FXStreet (Córdoba) - USD/JPY rose further and reached a fresh daily high at 120.65 after breaking above 120.50.
The pair erased weekly losses and is back to the price level it had on Monday. On Tuesdays bottomed at 118.84 but since then it has risen almost 200 pips. “Technically, the dollar is poised to re-challenge the 121.85 high set in early December,” said Marc Chandler, Global Head of Currency Strategy at BBH.
Greenback remains around 120.60 against the yen and near last week highs that lie at 120.80, above it would be trading at the strongest level in three weeks.
The pair erased weekly losses and is back to the price level it had on Monday. On Tuesdays bottomed at 118.84 but since then it has risen almost 200 pips. “Technically, the dollar is poised to re-challenge the 121.85 high set in early December,” said Marc Chandler, Global Head of Currency Strategy at BBH.
Greenback remains around 120.60 against the yen and near last week highs that lie at 120.80, above it would be trading at the strongest level in three weeks.