USDJPY TRADES LOWER AFTER CRACKING 110 LEVEL
The U.S dollar has started to trade lower against the Japanese yen currency, after the FOMC Policy Decision provoked a broad-based sell-off in the U.S dollar index. The USDJPY pair currently trades around the 109.65 level, having previously moved above the 110.00 level, hitting 110.03 on Wednesday. Trading are likely to be increasingly focused on the 110.00 handle, ahead of Friday’s key Non-farm Payrolls job report from the United States economy.
The USDJPY pair retains its intraday bullish bias while trading above the 109.45 level, key resistance is now found at the 110.03 and 110.40 levels.
If the USDJPY pair does move below the 109.45 level, the 109.00 and 108.50 levels offer the strongest form of technical support.