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- USD/JPY has held rising trendline support at 113.27 on the 4 hourly charts and edges higher.
- Recovery picks-up pace in response to the renewed rally seen in the Chinese equities.
- Shanghai Composite bounces 0.63%, CSI 300 rises +1.34% and Nikkei 225 finished up 0.32%.
- Earlier today BoJ Gov Kuroda said that the Central bank was not currently considering taking interest rates further into negative territory.
- Focus now on the crucial NFP data due in the NY session, which will provide fresh hints on the Fed interest rates outlook and have a major impact on the pair.
Resistance Levels:
R1: 114
R2: 114.18 (Mar 1st highs)
R3: 114.26 (March 3rd highs)
Support Levels:
S1: 113.54 (5-DMA)
S2: 113.27 (trendline)
S3: 113.17 (10-DMA)
