FXStreet (Barranquilla) – The US Dollar is trying to recover some ground against the Japanese Yen and after bouncing off 122.50, the USD/JPY is now trading above 123.00. Pair is in the recovery mode after the 200-pip decline post-FOMC meeting.
Currently, USD/JPY is trading at 123.02, down 0.32% on the day, having posted a daily high at 123.62 and low at 122.48. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
The recovery move in the USD came after the latest round of US economic data that showed an increase in the Philadelphia Fed Manufacturing Index above expectations and also in the CB Leading Indicator Index.
USD/JPY levels
If the pair remains above 123.00, it will find resistances at 123.30 and 123.60. To the downside, supports are at 122.85, 122.60 and 122.50.
(Market News Provided by FXstreet)