FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
USD/JPY inched slightly higher on Thursday as investors seem guarded from making big bets after Federal Reserve signals suggested that it could raise interest rates next month, while investors closely watched development…
USD/JPY inched slightly higher on Thursday as investors seem guarded from making big bets after Federal Reserve signals suggested that it could raise interest rates next month, while investors closely watched developments in the U.S. presidential election campaign.
Short buying interest around 102.52 triggering a slight recovery in the pair as it jumped to hit session high at 103.31.
However, the remains under bears control unless until it trades below 104.15 resistance level, therefore it is good to sell this pair on rallies.
To the upside, immediate resistance can be seen at 103.73, a break above this level would take the pair towards next resistance level at 104.15.
To the downside, immediate support can be seen at 103.10, a break below this level will open the gates towards next level at 102.46.
