• USD/JPY grinding higher, extends overnight recovery from fresh 2-month lows on Wednesday
  
  
• The major continues to remain support as generalized risk-off environment seems to have eased, reducing the demand for yen as a safe-haven
  
  
• Fed minutes showed participants increasingly ready to begin raising rates, but (still) waiting for confirmation in the data. However there were warnings against premature tightening, and concerns regarding Greece and China.
  
  
• The pair currently trades at trades at 121.44. US jobless claims data tonight will be in focus. 

Resistance Levels:

R1: 121.48 (4H Tenkan-Sen)

R2: 121.78 (4h Kijun)

R3: 122.00 (4H 20 MA)

Support Levels:

S1: 120.45 (daily low)

S2: 120.40 (Jul 8 low)

S3: 119.83 (May 19 low)