FxWirePro: USD/JPY maintains bullish bias with focus on 115.00 levels
USD/JPY rose on Monday as after US ISM services data showed the pace of growth among domestic services industries accelerated more than forecast in November. The dollar quickly regained its footing against Japanese Yen a…
USD/JPY rose on Monday as after US ISM services data showed the pace of growth among domestic services industries accelerated more than forecast in November.
The dollar quickly regained its footing against Japanese Yen as investors shrugged off worries of political instability in Italy, while dollar and U.S. Treasury yields rose after U.S. economic data.
Further downside is expected to be limited as the pair finds strong support at 114.07 should limit further decline and bring rebound towards higher levels in the short term.
To the upside, the strong resistance can be seen at 115.00, a break above this level would take the pair towards next resistance level at 115.55.
To the downside immediate support can be seen at 114.07, a break below this level will open the door towards next level at 113.41.
