USD JPY Trading News
12/1/2016 4:54:17 PM
Broad based correction behind the dollar looks to have collected pace over the last hour, eliminating USD/JPY below 114.05 handle.
The withdrawal in the USD/JPY from 10 month tops speeded up in early Europe, as the USD bears flexed their muscles and expanded the corrective slide, mainly driven by profit-taking and technical selling, after the major failed just shy of 115.10 handle. The major is last seen changing hands around 114.05 handle, having posted a daily low of 113.88, down -0.40% on the day.
The major finds immediate persistence at 114.50. A break above the last, the major could test 114.85 and 115.10 beyond the last. While to the downside, the immediate support is seen at 113.70 next at 113.15 and below that at 112.85.
Written by FxErvin