The USD/JPY pair staged a solid comeback in the Asian session this Thursday, as risk-on returns with markets speculating a Clinton win, as the US presidential election debate progresses.
USD/JPY fast-approaching 101.00
The dollar-yen pair recovered almost 80-pips so far this session, rebounding sharply in tandem with risk sentiment as the US election debate continues and suggests that Clinton looks a stronger presidential candidate. At the time of writing, USD/JPY jumps +0.48% to 100.80, having posted fresh session highs at 100.87 last minutes.
More so, markets digest the latest remarks from the Japanese finance minister Aso, noting that he wants to quickly pass the budget in a bid to escape deflationary pressures. While a solid rebound staged by the Japanese stocks, further added to the bid tone around USD/JPY.
Markets will continue to closely monitor the developments surrounding the US presidential election, while focus also remains on the OPEC meeting due later this week.
USD/JPY Technical levels to watch
In terms of technicals , the immediate resistance is located at 101.23 (10-DMA). A break above the last, the major could test 101.50 (psychological levels) and 101.80 (20-DMA) beyond the last. While to the downside, the immediate support is seen at 100.55 (daily pivot), next at 100.07 (four-week lows) and below that at 99.53 (mid-Aug lows).
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