FxWirePro: USD/JPY maintains bullish bias with focus on 110.00 levels
The pair remained in strong bullish tone on Friday as buying interest continued on dips as the pair was helped by view that the Federal Reserve is still on track to raise rates before any other major central bank. The cu…
The pair remained in strong bullish tone on Friday as buying interest continued on dips as the pair was helped by view that the Federal Reserve is still on track to raise rates before any other major central bank.
The currencies was buoyed late on Thursday by comments by Federal Reserve’s Rosengren, who said if the Fed should raise interest rate if data confirms a stronger jobs market and inflation in the second quarter.
Currently the currency pair is trading around 108.88 levels, it is set to advance further towards 109.50 later towards 109.80 levels in the short term.
To the upside, the strong resistance can be seen at 109.41, a break above this level would expose the pair towards next resistance level at 109.83.
To the downside immediate support can be seen at 108.66, a break below will open the door towards next level at 107.90.
