FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
USD/JPY declined on Tuesday as the dollar dipped ahead of a news conference on Wednesday by U.S. President-elect Donald Trump. The market is looking for more clues on Trump's spending plans in the first speech since his …
USD/JPY declined on Tuesday as the dollar dipped ahead of a news conference on Wednesday by U.S. President-elect Donald Trump.
The market is looking for more clues on Trump's spending plans in the first speech since his shock win in November, pushing the dollar lower.
Further upside for this pair is expected to be limited as strong resistance level at 116.46 is set to limit upside and bring decline towards lower levels.
To the upside, immediate resistance can be seen at 115.76, a break above this level would take the pair towards next resistance level at 116.46.
To the downside immediate support can be seen at 115.34, a break below this level will open the gates towards next level at 114.70.
