Wednesday, November 11, 2026

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FxWirePro: USD/JPY rally stalls just shy of 121 handle, prospects of more BoJ easing weigh on yen

The dollar extended gains against the yen on Friday on increased prospects of more easing by the Bank of Japan The Yen is facing fundamental headwinds in respect to Global deflationary pressures and the BoJ's easing poli…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

  • The dollar extended gains against the yen on Friday on increased prospects of more easing by the Bank of Japan

  • The Yen is facing fundamental headwinds in respect to Global deflationary pressures and the BoJ's easing policy as well

  • USD/JPY opened today at 120.60 and reached the day's highs at 120.97, stalling just ahead of 121 handle

  • USD690 mln 121.00-05 option expiries help cap, some more expiries above. Mostly just above expiring 120.70-75 option, USD548 mln, 120.50 700 mln too

  • USD/JPY is currently trading at 120.79, with immediate resistance at 121.00 and support on the downside at 119.98 (Session Low Sep 10)

Resistance Levels:

R1: 121.00 

R2: 121.38 (Session High Sep 10)

R3: 121.74 (Daily High Aug 31)

Support Levels:

S1: 119.98 (Session Low Sep 10)

S2: 119.82 (Daily Low Sep 9)

S3: 118.86 (Daily Low Sep 8)

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By FxWirePro Team