USD/JPY pullback contained, resumes rise

FXstreet.com (Córdoba) - The USD/JPY saw a corrective stage after reaching a fresh 4-month high during the Asian session, dipping briefly below 101.00.

However, the USD/JPY managed to bounce from the 100.95 zone and recovered ground, supported by positive sentiment and Nikkei gains. The USD/JPY is currently trading at the 101.15/20 area, virtually unchanged since opening, with only a couple of Fed speakers on the US docket.

USD/JPY levels to watch

In terms of technical levels, the USD/JPY could find immediate resistances at 101.35 (daily high), 101.53 (Jul 8 high) and 101.79 (May 30 high). On the other hand, support levels are seen at 100.95 (daily low), followed by 100.60 and 100.42 (former resistance levels).

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