USD flows to session high versus JPY
9/15/2017 11:22:37 AM
During Forex market activities, the JPY kept on losing ground across the board, with the USD/JPY bounce back around 110-pips from early Asian session fluctuate lows near mid-109.05s.
Even the current careful sentiment around European equity markets, which inclines to benefit the JPY's safe-haven appeal, and a quiet USD price action did little to stop the pair's strong up-move to the 110.77-86 area.
Bulls would be eyeing for a conclusive break over the 111.05 handle, above which the pair is probable to dart towards the 112.11 neighborhood with some intermediate persistence near 111.33-38 area.
On the other hand, 110.55-47 zone now appears to protect immediate weakness, which if broken could pull the pair back towards the 110.11 psychological mark ahead of 109.73 horizontal support.
FOREX market analysis by FxErvin.