USD JPY growth held up
11/11/2016 10:12:09 AM
The USD has now let down from daily highs against JPY on Friday, taking USD/JPY to the 106.60 area at the end of the Asian session.
Spot is consequently reverting 5-successive sessions with gains after the upside momentum appears to have run out of legs in the area of the key barrier at 107.00 the figure in early trade.
In advance in the day, market participants will stay attentive on political growths in the US following the victory of Donald Trump. On the data front, the advanced figures of the Reuters Michigan index for the current month are only due along with the speech by FOMC’s S.Fischer.
As of writing the pair is withdrawing 0.26% at 106.55 and a break below 104.45 would aim for 102.85 and then 101.15. On the other hand, the first hurdle line up at 107.50 ahead of 111.45 and ultimately 111.94.
Fundamental Analysis
by FxErvin
