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USD/JPY holding firm on 108 handle and bid

FXStreet (Barcelona) - USD/JPY is trading at 108.26, up 0.22% on the day, having posted a daily high at 108.76 and low at 107.75.

The Nikkei opened up 0.55% and the USD/JPY has started to recover from below the 108.10 level and is approaching the top of the resistance line since dropping on the back of the FOMC minutes in the US shift. Meanwhile, Kuroda has been speaking in New York, with much of the same saying the BoJ's is on path and essentially their model is working. Valeria Bednarik, chief analyst at FXStreet expects that the key support stands around 107.65, and it will take a break below it to confirm a continued slide over the upcoming sessions.

USD/JPY noteworthy levels

Current price is 108.26, with resistance ahead at 108.36 (Daily Classic PP), 108.48 (Weekly Classic S1), 108.76 and 108.77 (Hourly 100 SMA). Next support to the downside can be found at 108.14 (Daily 20 SMA), 108.03, 107.82 and 107.75.

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