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USD/JPY: holding in on the 120 handle

FXStreet (Guatemala) - USD/JPY is currently trading at 120.30 with a high of 120.38 and low of 120.02.

USD/JPY is subdued in the Tokyo open with inline Japanese CPI's prior to the open while the price consolidates the upside after Yellen suggesting the rates will likely go up before the end of the year depending on data. The price rallied on her comments to make fresh highs for the day overnight.

Otherwise, the greenback has been on the march from the 119.20 lows of European trade while risk has been mixed this week and the Yen sidelined into a chop between familiar ranges. Tomorrow may offer some price action around the US GDP numbers and PCE.

USD/JPY levels

Technically, we are training in familiar ranges with 120.80 remaining as key resistance and the pivot at 120.15 broken on this knee jerk spike making way for 120.68 R1. MA's are coming with a bullish bias while MACD on the hourly has been developing a positive reading during the minor recovery from 119.20 and S2. This guards 118.81.

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