FxWirePro: USDJPY rebounds, critical resistance at lies ahead
The USD/JPY pair inched higher on Wednesday, as gains in global stocks and increased appetite for riskier assets put the Japanese yen under pressure. Further downside is expected to be limited as the pair finds strong su…
The USD/JPY pair inched higher on Wednesday, as gains in global stocks and increased appetite for riskier assets put the Japanese yen under pressure.
Further downside is expected to be limited as the pair finds strong support at 108.00 which should limit the slipping below and bring a decline towards higher levels.
To the upside, the strong resistance can be seen at 109.50, a break above this level would take the pair towards next resistance level at 109.92.
To the downside immediate support can be seen at 109.14, a break below this level will open the door towards next level at 108.80.
