USD/JPY: The dollar rallied to a 2-1/2 month peak, underpinned by a surge in the U.S. Treasury yields after data showed U.S. gross domestic product surpassed expectations. However, mounting concerns over a slowdown in global growth dented the bid tone around the dollar. The major was trading 0.3 percent up at 111.72, having hit a high of 111.77, its highest since December 20. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. personal consumption expenditures, manufacturing PMI’s from both Markit and ISM, and Fed Bostic’s speech. Immediate resistance is located at 112.00, a break above targets 112.60 (Dec. 20 High). On the downside, support is seen at 110.66 (Feb.28 Low), a break below could take it lower at 110.25 (Feb.15 Low).
USD/JPY daily chart
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