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USD/JPY draws line in the sand at 108.00

FXStreet (Bali) - USD/JPY is treading water at the moment, being held above the 108.00, line in the sand that some big players drew right after a more dovish than expected FOMC minutes.

As Jim Langlands, Founder at FXCharts, notes: "The dollar has made a couple of attempts at the downside, but after a choppy session it finished in NY pretty much where it was this time yesterday and would seem that we could be in for more of the same again today."

Jim adds: "Another day of 107.75/108.75 could well cover it, and while I think that eventually the upside will resume, the daily charts are not supportive of any immediate challenge on 110.00 and in the short term we should look for some more choppy price action."

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