USD Succeeded to stay in top versus JPY
3/23/2017 8:55:50 AM
According to Forex market the USD/JPY pair cut some of its first recovery gains, although has succeeded to hold in positive area above the 111.05 handle.
A small advance in investors' risk appetite on Thursday, which be likely to driver flows away from traditional safe-haven properties - like the JPY, helped the major to spread out overnight recovery move from four-month lows near 110.77 area.
Immediate support is fixed near 111.15 level, below which the pair is probable to head back towards several month lows support near 110.77 area on the way its next support near 110.37 level.
On the upside, momentum above mid-111.05s is probable to provoke persistence near 111.73 area, above which the pair appears all set to regain the 112.03 handle and head towards testing 112.27 persistence area.
FOREX market analysis by FxErvin.