USD/JPY climbs to highs above 110.20

The greenback remains on the rise vs. its Japanese counterpart on Wednesday, with USD/JPY advancing further north of the 110.00 handle.

USD/JPY supported around 109.90

The pair managed to bounce off earlier lows in the 109.90 area and regain the upper end of the recent range above the psychological 110.00 mark, as the dollar trims initial losses and the risk-on sentiment prevails amongst traders.

Ahead in the session, US trade balance figures and Markit’s Services PMI are due, although market participants remain focused on the upcoming speeches by FOMC’s Harker, Kashkari and Kaplan.

USD/JPY levels to watch

As of writing the pair is up 0.16% at 110.18 facing the immediate resistance at 110.59 (high May 20) followed by 111.92 (high Apr.28) and finally 112.62 (100-day sma). On the flip side, a breach of 108.63 (20-day sma) would aim for 105.52 (2016 low May 3) and then 105.18 (monthly low Oct.2014).