USD/JPY Though 111.00 on Yen Selling
The selling pressure is now gathering traction around the Japanese currency, lifting USD/JPY to fresh highs beyond the key 111.00 barrier.
USD/JPY up on BoJ rumours, looks to US PMI
The
pair’s march north remains everything but unabated today following
rumours that the BoJ could announce negative rates on its lending
programme at its next meeting on April 27-28.
Coupled with that,
the increasing buying interest around the greenback is helping bulls to
clinch levels beyond the 111.00 handle, or 2-week tops, ahead of the
flash manufacturing PMI in the US economy due later.
USD/JPY levels to watch
As
of writing the pair is advancing 1.52% at 111.12 and a break above
112.08 (55-day sma) would aim for 113.81 (high Mar.29) and finally
114.58 (high Mar.2). On the other hand, the next support aligns at
107.65 (2016 low Apr.12) followed by 105.18 (monthly low Oct.2014) and
then 100.74 (monthly low Feb.4 2014).
