USD/JPY chart - Trading View
- USD/JPY extends previous session's gains, trades 0.09% higher on the day at 111.73.
- US dollar buoyed across the board after upbeat US PPI and jobs data overnight.
- Data the showed a larger-than-expected increase in PPI in March and initial jobless claims at the lowest since 1969.
- US Treasury yields bounced back, and as the yield-curve becomes less of a concern, markets remain risk-on.
- The pair could extend bullish momentum upto 112 mark. Further upside to see test of 76.4% Fib at 112.21.
- On the flipside, daily cloud offers strong support. Weakness only on break below.
- Focus now on US export/import prices along with UMitch Consumer Sentiment Index for further impetus.
Support levels - 111.50 (200-DMA), 110.78 (cloud top)
Resistance levels - 112, 112.21 (76.4% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
