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7 Mar 2014
USD/JPY ends week above 103.00
FXStreet (Córdoba) - The USD/JPY rose on Friday for the fourth day in a row and finished the week above 103.00. A better-than-expected employment report in the US boosted the pair that peaked at 103.74, the highest price since January 23, but later pulled back trimming gains.
During the American session the USD/JPY stabilized and finished the week hovering around 103.30 posting the highest weekly close since early January, and the best in eight months.
Risk aversion and US data boosted the USD/JPY that broke a key resistance level on Thursday, around 102.70/90, that capped the upside during all February. According to the FXStreet Currencies Forecast Poll, the outlook for coming weeks is bullish for the USD/JPY, with price on average, forecast to be above 104.00 in three months.
During the American session the USD/JPY stabilized and finished the week hovering around 103.30 posting the highest weekly close since early January, and the best in eight months.
Risk aversion and US data boosted the USD/JPY that broke a key resistance level on Thursday, around 102.70/90, that capped the upside during all February. According to the FXStreet Currencies Forecast Poll, the outlook for coming weeks is bullish for the USD/JPY, with price on average, forecast to be above 104.00 in three months.