Home » Charts » Mar. 12, 2015: USDJPY Capped Below 1.22

Mar. 12, 2015: USDJPY Capped Below 1.22

The USDJPY advanced on Wednesday and extended its momentum into Thursday’s Sydney session, but significant headwinds continue to threaten a bigger upside north of the 1.22 handle.

The USDJPY climbed 0.3 percent to 121.50, after trading within a range of 1.2087-1.2163 on Wednesday. The pair faced strong resistance at the upper end of that channel. The major resistance test is located at 121.81. A break above this level would expose 121.48. On the downside, initial support is located at 120.69.

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