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

 

Disclaimer: The content of the Reports constitutes Marketing Communication and does not constitute Investment Advice or Investment Research or an offer for any transactions in financial instrument. The content of the Reports represents the view of our experts on a generic basis, and does not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the Reports have not been prepared in accordance with legal requirements designed to promote the independence of Investment Research, and are not subject to any prohibition on dealing ahead of the dissemination of Investment Research. Readers using the Reports should consider the possibility of encountering substantial losses. The past performance is not a guarantee of future results. Therefore, Goldenburg Group Limited shall not accept any responsibility for any losses of traders due to the use and the content of its Reports.