USD/JPY making tracks back to the 116 handle

Currently, USD/JPY is trading at 115.97, down -0.05% on the day, having posted a daily high at 116.12 and low at 115.66.

USD/JPY has recovered some of the early losses from late US and early Asia shift where the Yen rallied hard against the greenback and took the dollar down to 115.60 and below the 116 handle. The move has given rise to another go at this year's lows so far to 115.05 although the dollar could find a bounce at any given time on renewed sentiment for the Fed to continue rising rates and thus the divergence theme between Central Banks could quickly come back into focus, but for the mean time, there are plenty of risk aversion events coming up this year that could curb major advances in the major much through the psychological 120 mile stone level.

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USD/JPY levels

Current price is 115.98, with resistance ahead at 116.03 (Daily Open), 116.12 (Daily High), 116.39 (Daily 20 SMA), 116.40 (Hourly 20 EMA) and 116.43 (Daily Classic PP). Next support to the downside can be found at 115.96 (Yesterday's Low), 115.66 (Daily Classic S1), 115.66 (Daily Low), 115.57 (Weekly Low) and 115.57 (YTD Low).