FxWirePro: USD/JPY maintains bullish bias with focus on 107.00 levels
USD/JPY rose on Monday, as investors bought the greenback after a robust retail sales report on Friday increased appetite for riskier assets putting pressure on the Japanese yen. The yen sank across the board as investor…
USD/JPY rose on Monday, as investors bought the greenback after a robust retail sales report on Friday increased appetite for riskier assets putting pressure on the Japanese yen.
The yen sank across the board as investors unwound a surge of safe-haven trades made on the back of an attempted military coup in Turkey.
Further downside is expected to be limited as the pair finds strong support at 105.41 which should limit the slipping below and bring a rebound towards higher levels.
To the upside, the strong resistance can be seen at 106.41, a break above this level would take the pair towards next resistance level at 107.00.
To the downside immediate support can be seen at 105.91, a break below this level will open the door towards next level at 105.41.
