USD/JPY: The dollar rallied to a fresh 1-week peak, as strong U.S. jobs data and expanding stimulus in China boosted appetite for the greenback. However, indications from the U.S. Federal Reserve that interest rate increases may be over for now limited the upside. The major was trading 0.3 percent up at 109.90, having hit a high of 109.92 earlier, its highest since January 25. Investors’ will continue to track the broad-based market sentiment, ahead of the U.S.ISM-NY business conditions Index. Immediate resistance is located at 110.47 (Dec. 31 High), a break above targets 111.19 (Dec. 24 High). On the downside, support is seen at 108.80 (Jan. 30 Low), a break below could take it lower at 108.37 (Jan. 16 Low).
USD/JPY daily chart