After consolidating for almost a week, USD/JPY appears to be breaking to the upside. Rumours of sales tax hike delay and weaker GDP print to come Wednesday morning are doing the rounds and may have contributed to the yen weakness.

Area between 109.45 and 110, which includes 61.8% retracement of the BOJ meeting downswing, is the immediate resistance with 50 DMA (currently 110.30) and 76.4% retracement (110.40) the two stronger levels above the big figure. 108.75 - 109.25 shall now hold as a support.

Traduzir para Inglês Mostrar original