USDJPY 104.50 now key
The US dollar is struggling to maintain Wednesday’s trading gains against the Japanese yen currency, despite the Bank of Japan calling for a review of its monetary policy in March. The USDJPY pair is at risk of falling towards the 104.10 area if bulls fail to defend the 104.50 level. To the upside, a rebound from current levels could provoke another attack towards the 104.80 area.
The USDJPY pair is only bullish while trading above the 104.50 level, key resistance is found at the 104.80 and 105.30 levels.
The USDJPY pair is only bearish while trading below the 104.50 level, key support is found at the 104.30 and 104.10 levels.