USD/JPY Back above 110.00 Post-US Data
It seems the greenback has recovered the smile today, now lifting USD/JPY once again beyond the 110.00 handle.
USD/JPY bid despite data
Spot met further buying pressure despite Initial Claims and the Philly Fed Manufacturing index have come in below expectations today at 278K and -1.8, respectively.USD remains bolstered by the recent hawkish tone seen in the FOMC minutes (Wednesday), although yields of US Treasuries keep showing an erratic performance for the time being and ahead of the speech by New York Fed William Dudley (voter).
USD/JPY levels to watch
As of writing the pair is up 0.01% at 110.21 facing the immediate resistance at 110.38 (high May 19) followed by 110.44 (55-day sma) and finally 111.92 (high Apr.28). On the flip side, a breach of 108.84 (20-day sma) would aim for 105.52 (2016 low May 3) and then 105.18 (monthly low Oct.2014).
