FXStreet (Edinburgh) – The Japanese yen continues to depreciate vs. its American counterpart on Wednesday, lifting USD/JPY to the boundaries of 121.00 the figure.
USD/JPY rises along with dollar
The greenback is now gathering further pace and testing session highs when measured by the US Dollar Index, while market participants get ready for a potential stab of the 121.00 mark.
A positive performance of US Treasuries are also supporting today’s upside in the pair, amidst speculations of a Fed’s lift-off towards year-end or even Q1 2016 in detriment of a September’s rate hike.
USD/JPY levels to watch
As of writing the pair is up 0.91% at 120.91 facing the next up barrier at 121.41 (high Aug.31) followed by 121.75 (high Aug.27) and finally 122.05 (high Aug.23). On the flip side, a breakdown of 119.80 (low Sep.9) would expose 118.58 (low Sep.4) and then 118.45 (low Aug.25).
(Market News Provided by FXstreet)