USD/JPY BOUNCES-OFF A DIP TO 100-DMA
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The USD/JPY pair reversed a spike to daily highs at 112.34, although managed to hold above 100-DMA support located at 112.03, as the yen lost footing amid renewed worries over the outcome of Japan-US Summit scheduled tomorrow in Washington.
Meanwhile, broad based US dollar strength also collaborates to the latest leg higher in USD/JPY. The spot was last seen exchanging hands at 112.19, up +0211% on the day, and looks to regain 112.50 barriers.
Current exchange rate of USD/JPY is 112.28.
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