The 11th of February is an official holiday in Japan, therefore high market volatility should not be expected. After a galloping growth at the end of the last week, the pair is firmly moving to record highs registered in December 2014. The data on the US labour market was favourable to the dollar. A predicted increase in retail sales volumes will also have a positive impact on the American currency.
Technically, we can see that Moving Averages M10, M20 and М30 have crossed one another at 118.65 on the daily chart, which is a signal to buy.
The value of 119.90 is a powerful resistance level. It may be crossed in a very short time. The next resistance level is the value of 120.70 (last year's maximum). Local lows at 118.50, 117.50 and 116.15 serve as support.