FxWirePro: USD/JPY gains some upside momentum but still bearish
The USD/JPY pair initially slipped to hit low at 100.17 levels during early US session, however, the pair pulled back some losses after the release of better-than-expected U.S. ISM non-manufacturing PMI data. At the mome…
The USD/JPY pair initially slipped to hit low at 100.17 levels during early US session, however, the pair pulled back some losses after the release of better-than-expected U.S. ISM non-manufacturing PMI data.
At the moment the pair is trading around 101.28 levels, it is set to decline towards 100.50 and 100.00 levels as the resistance level at 101.70 is set to hold the bulls from advancing further, and bring a decline towards lower levels in the short term.
Strong support can be seen at 100.65, a break below this level will expose the pair towards next support level located at 100.00 levels.
Major resistance can be seen at 102.00, a break above this level will open the gates towards 102.69 levels.
