9 Mar 2016
USD/JPY turns positive but stalls ahead of 113.00
US dollar finally picked up pace against the yen and climbed to fresh daily highs, moving away from a weekly low of 112.22 scored earlier.
USD/JPY rose more than 70 pips over the last hours and turned positive for the day, although the upside was capped a few pips ahead of the 113 mark. Having struck a high of 112.96, the pair is currently trading at 112.87, up 0.25% on the day, ahead of US wholesale inventories data release.
USD/JPY levels to watch
As for technical levels, next supports are seen at 112.15 (Mar 1 low) and 111.88 (Feb 25 low) ahead of 110.97 (2016 low, Feb 11). On the other hand, resistances could be found at 113.50 (Mar 8 high), 114.54 (Mar 2 high) and 115.05 (38.2% Fibo retracement of 121.68-110.97).
USD/JPY rose more than 70 pips over the last hours and turned positive for the day, although the upside was capped a few pips ahead of the 113 mark. Having struck a high of 112.96, the pair is currently trading at 112.87, up 0.25% on the day, ahead of US wholesale inventories data release.
USD/JPY levels to watch
As for technical levels, next supports are seen at 112.15 (Mar 1 low) and 111.88 (Feb 25 low) ahead of 110.97 (2016 low, Feb 11). On the other hand, resistances could be found at 113.50 (Mar 8 high), 114.54 (Mar 2 high) and 115.05 (38.2% Fibo retracement of 121.68-110.97).