USD stayed limited on the session versus JPY
5/8/2017 9:45:15 AM
According to Forex market The USD/JPY pair has succeeded to rebound lows but stayed capped below the 113.10 handle. The pair needed any follow through buying interest and recoiled back to 112.63 level.
On a constant break through the 113.10 handle, the pair is probable to speed up the up-move towards 113.37 horizontal persistence above which a bout of short-covering could boost it more towards 113.85 intermediate persistence ahead of the 114.05 handle.
On the other hand, immediate support is fixed near 112.48 area, which if broken appears to drag the pair towards 112.13 support on the way 111.78 horizontal support.
FOREX market analysis by FxErvin.