USDJPY GAINING TRACTION ABOVE 106.00 LEVEL
The U.S dollar has regained upside momentum against the Japanese yen during a quiet European trading session, with intraday buyers reclaiming the 106.00 handle. The USDJPY pair has suffered from depressed trading volumes, with price-action moving in a thirty-point trading-range ahead of a series of market risk-events. USDJPY traders now look towards the upcoming BOJ policy decision and Friday’s Non-farm payrolls job report for February.
- The USDJPY pair is likely to edge higher whilst trading above the 106.00 level, further intraday upside towards the 106.22 and 106.45 levels remains possible.
- Should USDJPY price-action move convincingly below the 106.00 level, sellers may test towards the 105.50 and 105.24 support regions.