USD/JPY firmer, eyes 115.80

FXStreet (Edinburgh) - The greenback is now extending its bounce off the 115.00 support, lifting USD/JPY back to the boundaries of 115.80.

USD/JPY attention to domestic data

The pair is netting an even day on Wednesday, managing to revert the initial drop to 115.00 the figure and keeping the weekly upside bias unchanged at the same time. While speculations on the potential delay of the sales tax hike by Abe’s government (April 2017?) continue to mount, traders will turn their attention to Thursday’s data in Japan: Foreign Bond Investment, Machinery Orders and Industrial Production. These results will likely set the tone for the pair during early trade, ahead of the US Initial/Continuing Claims.

USD/JPY key levels

The pair is now up 0.17% at 115.67 with the initial hurdle at 116.01 (high Nov.12) ahead of 116.11 (2014 high Nov.11) followed by 116.70 (high Oct.18 2007). On the flip side, a breakdown of 114.72 (61.8% of 113.86-116.11) would aim for 114.63 (low Nov.11) and finally 113.86 (low Nov.10).