120,00 Level Should be Followed / USDJPY / 05/01/2015 10:53:18Last Friday the pair rose till the 120,70 level due to dollar appreciated on a global basis. But ISM manufacturing index and construction spending could not meet the expected in the US side later in the day. In this context the pair moved downward.
Today San Francisco Fed president. Williams speech will be followed by the markets in the US side.
Technically the pair continues its upward trend. In case of the pair breaking the 120,00 support level, then the 119,20 and the 118,70 level would be aimed. But in case of the pair staying above the 120,00 support level, then the 121,00 and the 121,85 level can be targeted.