FxWirePro: USD/JPY takes trendline support at 113.27, good to buy dips
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…
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.
Recommendation: Good to buy dips around 113.80, SL: 113.40, TP: 114.25/55
