USD/JPY finds support above 117.20

FXStreet (Córdoba) - USD/JPY bottomed at 117.22 and rebounded. Currently is approaching 117.50 and the level it had at the beginning of the day. The yes is posing modest gains across the board as stocks fall in Europe and Wall Street futures point to a negative opening.

USD/JPY supported above 117.20

The pair climbed on Asian hours to 117.99, the strongest level since last Friday, but then turned to the downside and dropped sharply, bottoming during the European session. The decline found support above the 117.20 area, that also capped the pair during yesterday’s American session.

The US dollar trimmed losses against the yen in during the last two hours as traders get ready for the US ADP employment report and also ahead of Friday’s NFP data.