FxWirePro: USD/JPY maintains bullish bias with focus on 115.50 levels
USD/JPY rose on Monday as traders widely anticipate that Federal Reserve will raise interest rate on Wednesday. Friday's strong U.S. employment report has solidified the view that the Federal Reserve will increase intere…
USD/JPY rose on Monday as traders widely anticipate that Federal Reserve will raise interest rate on Wednesday.
Friday's strong U.S. employment report has solidified the view that the Federal Reserve will increase interest rates when its policy makers meet this week.
With a rate hike widely expected, market watchers will also be looking for signals about the pace of future rate increases.
The currency pair is trading at 114.78, it is set to advance towards 115.50 and later towards 116.00 levels in the short term.
To the upside, the strong resistance can be seen at 115.47, a break above this level would take the pair towards next resistance level at 116.00.
To the downside immediate support can be seen at 114.77, a break below this level will open the door towards next level at 114.12.
