• USD/JPY rose on Wednesday as Japanese yen weakened as demand for safe-haven yen diminished and investors awaited further details on U.S. President-elect Donald Trump's proposed policies.
•On the data front, Japanese exports rose 3.1% year-on-year in October, rebounding from a 1.7% drop in September, data from the Ministry of Finance showed on Wednesday.
•Imports increased 0.4% in October from a year earlier, versus a 0.3% decrease expected by economists.
• At GMT 11:34 the dollar was up 0.72 % at 155.76 against Japanese Yen .
• Immediate resistance is located at 155.92 (Daily high), any close above will push the pair towards 156.96 (23.6%fib).
• Support is seen at 154.24 (38.2%fib) and break below could take the pair towards 154.00 (SMA 14).
Recommendation: Good to buy around 155.70, with stop loss of 155.70 and target price of 156.50
