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USD/JPY bulls remain stubborn on 115 handle

FXStreet (Guatemala) - USD/JPY is trading at 115.53, down -0.04% on the day, having posted a daily high at 115.62 and low at 115.44.

USD/JPY has been attempting to hold onto the mid range of the 115 handle while pressures have been mounting with supply resulting in lower highs on attempts to the upside as well as creating lower lows. However any pops at the 115.00 level, the pair bounces back and bulls remain stubborn. Should the pair manage to hold on here, then this brings in the possibility of a further break to the upside, with fundamentals backing such an outcome onto the 116 handle.

USD/JPY noteworthy levels

Current price is 115.54, with resistance ahead at 115.96 (Weekly Classic R1), 116.02 and 116.19 (Daily Classic R1). Next support to the downside can be found at 115.48, 115.20 and 115.00. Below here 114.80 will be a key supporting area ahead of the bearish gap at the start of this week’s business.

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