FxWirePro: USD/JPY stuck in range but maintains bullish bias
USD/JPY pair rose in the US session on Monday after data showed the U.S. manufacturing sector grew by more than expected in September, returning into expansion territory. Demand for safe haven assets like Japanese yen de…
USD/JPY pair rose in the US session on Monday after data showed the U.S. manufacturing sector grew by more than expected in September, returning into expansion territory.
Demand for safe haven assets like Japanese yen declined after reports surfaced that Deutsche Bank was negotiating a reduced settlement with the U.S. Department of Justice.
The pair is set to reach 102.00 and later towards 101.50 in the short term as the US dollar is set to strengthen further against its Japanese counterpart in the short term.
To the upside, the strong resistance can be seen at 101.76, a break above this level would take the pair towards next resistance level at 102.16.
To the downside immediate support can be seen at 101.45, a break below this level will open the gates towards next level at 101.13.
