USDJPY BUYERS TARGET 109.76 LEVEL
The greenback continues to firm above the 109.00 handle against the Japanese yen, with bulls now targeting towards the key former swing-price-high, at 109.76. The USDJPY pair currently trades around the 109.30 level, after finding interim weekly resistance from the 109.44 level. Traders now look towards the release of U.S Durable Goods Orders, and the Bank of Japan Interest Rate Decision and Policy Statement on Friday.
The USDJPY pair remains bullish while trading above the pivotal 109.00 level, key upside resistance is located at the 109.76 level and the 110.11 level.
Should the USDJPY pair start to trade below the 109.00 level, a sharp decline back towards the 108.50 and 107.92 level may occur.