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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY remained little changed near daily high after recent data showed a gauge of US services sector grew more than expected in January.

The US Markit services PMI rose to 56.6 in January from 55.7 the previous month, exceeding market expectations of 56.2. The USD/JPY was barely affected by data clinging to the 102.75 area, having peaked at 102.92 earlier on the day. The USD/JPY recovered more than 100 pips throughout the day after bottoming out at an 8-week low of 101.76 at the weekly opening.

USD/JPY technical outlook

"The downtrend from 104.83 high is already over with the recent test above 101.60 support zone and the intraday outlook is positive, for a rise towards 103.00 resistance area", says Stoyan Mihaylov, analyst at "Minor intraday support lies at 102.15".
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