USDJPY: Bullish Eyes Further Upside…
As long as 110.10 -broken resistance turned support- holds on a daily closing basis. The USDJPY remains on the upside to 110.75 levels. A halt is likely. It may test 110.00 levels before attempts to move higher. Anyway; above 110.75 aims the 111.50 levels, further upside, resistance comes in the 112.05 levels.
Above 109.57 the pair is bullish. Below 109.57 light bullish. Below 109.00 sees pullback threats. Above 110.10 the pair is very bullish.
On the downside, immediate support comes around 110.10 levels. Below that level will bring a limited pullback above 109.57/109.00 levels where another rise is very likely.
In conclusion: The USDJPY sees upside threats above 109.57/110.00 levels.
Support: 110.10, 109.57, 109.00, 108.50, 107.85
Resistance: 110.75, 111.50, 112.05, 112.70, 113.50
Key data/events which may affect USDJPY today:
- U.S Building Permits (Dec) at 13:30 GMT.
- FOMC Member Harker Speaks at 14:00 GMT.
- U.S JOLTs Job Openings (Nov) at 15:00 GMT.
- FOMC Member Quarles Speaks at 17:45 GMT.