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USD/JPY clinches highs above 109.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback is extending its recovery today, now lifting USD/JPY to the area of daily highs above he 109.00 handle.

    USD/JPY stronger on China data, USD

    The return of the risk appetite to the global markets has been sustaining the up move in the pair since early trade in Asia, after Chinese trade balance figures have come in on the strong side during March.

    In addition, the US dollar is extending its weekly rally, recovering ground after posting fresh 2016 lows near 107.60 on Monday.

    Next of relevance for the pair will be US Retail Sales (0.1% exp.) seconded by the Fed’s Beige Book.

    USD/JPY levels to watch

    As of writing the pair is gaining 0.43% at 109.11 and a break above 111.10 (20-day sma) would expose 113.29 (55-day sma) and finally113.81 (high Mar.29). On the flip side, the next support lines up at 107.65 (2016 low Apr.12) followed by 105.18 (monthly low Oct.2014) and then 100.74 (monthly low Feb.4 2014).
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