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USD/JPY bulls sneaking in an attack at key 115.00

FXStreet (Guatemala) - USD/JPY is trading at 114.92, up 0.15% on the day, having posted a daily high at 114.99 and low at 114.58.

USD/JPY is making new tracks on the bid and looks to test out the 115 handle. However, it is not getting there with a free pass and meets supply just shy of the figure, as if with the turmoil post the Australian data, bulls attempted to sneak through unnoticed or challenged.

Nevertheless, risks are weighted to the upside and 115.00 is key based on the fundamentals and divergence between the central banks as a number of banks have been discussing recently, notably, Nomura , JP Morgan, Societe Generale. This week will also be telling in respect of the Nonfarm payrolls data in the US which will likely act a catalyst of a move one way or another and could be the trigger to break through supply at the psychological 115.00 if it doesn’t do sooner.

USD/JPY noteworthy levels

Spot is presently trading at 114.93, and next resistance can be seen at 114.99 (Daily High), 115.28 (Daily Classic R1), 115.69 (Weekly Classic R2), 115.80 (Daily Classic R2) and 116.73 (Daily Classic R3). Next support to the downside can be found at 114.86 and 114.50.

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