USD/JPY clings to gains a day over 111

The pair USD/JPY rose to a daily maximum in 111.70 after the macroeconomic data today in the united States but lost the momentum there, while the focus of the market shifted to the meeting of the Security Council of the UN on the situation in North Korea. After a slight pullback, the pair is traded now to 111.45, 0.15% on the day.

After his meeting with the Minister of Foreign Affairs of China, Wang Yi, u.s. Secretary of State Rex Tillerson said that the situation with North Korea has reached a level very dangerous and argued that the threat of a nuclear attack against Japan and South Korea was real.

At the beginning of the day, in an exclusive interview with Reuters, the president of the united States, Trump, suggested that although his administration was looking for ways to take control of the situation through economic sanctions, the possibility existed that the united States ended up having a major conflict with North Korea.

Despite the fluctuation observed in the american session, the pair USD/JPY is still operating in a range of trade three days between 111 and 111.80. The mixed data today helped the us dollar to take back some of its losses against its rivals, but the rate of the u.s. dollar has yet to make a decisive break above the level 99. After the strong fall after the first round of the French elections, the index is not managed a daily close above 99 and is now at 98.88, losing 0.14% on the day.

Technical perspective

The initial obstacle for the pair is aligned to 112 (psychological level) and waiting to 112.70 (DMA 100) and 113.50 (17 march).

On the other hand, a break below 111, the pair could aim to 110.35 (April 5) and 110 (psychological level/DMA 200).

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