USD/JPY advances beyond 113.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback keeps its buoyant tone vs. the Japanese currency at the end of the week, now taking USD/JPY back above the 113.00 mark.

    USD/JPY upside capped near 113.40

    After a brief test of session highs near 113.40 during overnight trade, the pair has sparked a correction lower, although sellers could not pushed further south of the 113.00 neighbourhood.

    Earlier auspicious results from US Q4 GDP have also collaborated with USD sentiment, helping spot to clinch its sixth consecutive session with gains.

    In Japan, inflation figures tracked by the National Core CPI have come in flat for the month of February, below estimates at 0.1%.

    USD/JPY levels to watch

    As of writing the pair is up 0.19% at 113.11 and a break above 114.58 (high Mar.2) would open the door to 114.86 (38.2% Fibo of 121.70-110.65) and finally 115.02 (55-day sma). On the other hand, the next immediate support aligns at 110.65 (low Mar.17) ahead of 105.18 (monthly low Oct.2014) and finally 100.74 (monthly low Feb.4 2014).
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