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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY took a step higher and printed fresh daily highs during the American afternoon amid broad dollar strength, supported by stocks gains.

The USD/JPY extended its recovery from a 4-week low struck on Monday and rose to the 104.60 zone, underpinned by strong US manufacturing data. At time of writing, the USD/JPY is trading at the 104.55 region, recording a 0.3% gain on the day.

USD/JPY technical outlook

Valeria Bednarik, chief analyst at FXStreet commented that as long as above 104.10, 100-hour SMA, the upside remains favored towards 105.00 on a break above 104.60 static resistance. "Bigger time frames present a bullish tone, supporting the shorter term view".
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