USDJPY UPSIDE INTACT AFTER BOJ MEETING
The U.S dollar continues to move higher against the Japanese yen currency, after the Bank of Japan Policy Meeting offered few surprises to traders early today. The USDJPY pair currently trades around the 109.30 level, after finding further dip-buying demand from just above the 109.00 handle. Traders are likely to focus on the psychological 110.00 level if the pair continues to move higher, and the release of key GDP and Consumer Confidence data from the United States economy later today.
The USDJPY pair remains bullish while trading above the pivotal 109.30 level, intraday resistance is now found at the 109.78 and 110.11 levels.
If the USDJPY pair moves below the 109.30 level for a sustained period, sellers may target the 109.00 and 108.50 support levels.