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USD/JPY chart on Trading View used for analysis
- USD/JPY extends recovery for a second straight session, trades 0.13% higher on the day at 112.89 at the time of trading.
- The pair remains supported by resilient US yields and a broadly stronger greenback.
- Technical studies for the day are neutral. Markets now await Japan CPI inflation data due Thursday for further impetus.
- Analysts expect Japan’s core CPI seen unchanged for third straight month in October.
- Recovery for now is capped at 5-DMA at 112.92, break above to see further upside.
- On the flipside, the pair finds immediate support at 55-EMA at 112.65, break below to see weakness till 110-EMA at 111.95.
Support levels - 112.65 (55-EMA), 111.95 (110-EMA)
Resistance levels - 112.92 (5-DMA), 113.08 (21-EMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
