FxWirePro: USD/JPY neutral in the near-term, scope for upward resumption
USD/JPY rose on Wednesday as dollar gained as expectations of a pro-growth message from U.S. President-elect Donald Trump's first news conference prevailed over worries about what he will say on trade and China. Investor…
USD/JPY rose on Wednesday as dollar gained as expectations of a pro-growth message from U.S. President-elect Donald Trump's first news conference prevailed over worries about what he will say on trade and China.
Investors awaited details about possible economic policies from President-elect Donald Trump who was scheduled for a news conference on Wednesday.
Anxiety whether Trump could deliver on economic issues he pledged during his campaign has led to a pullback in dollar in recent days.
To the upside, the strong resistance can be seen at 117.00, a break above this level would take the pair towards next resistance level at 117.52.
To the downside immediate support can be seen at 115.76, a break below this level will open the door towards next level at 115.09.
