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USD/JPY nears 107.50 post BoJ

FXStreet (Bali) - strong>USD/JPY relentless uptrend keeps on pushing north, currently at 117.35/40 session highs, following an uneventful BoJ meeting.

Jim Langlands, Founder at FXCharts, notes: "Above 107.05 there is not too much to stop the dollar heading towards 117.50 and then to 117.93 (14 Oct 2007 high) – and in the longer term, the target of 124.13 (June 2007 high) remains valid but will take time." On the downside, expect shallow setbacks, with 107.00 likely to attract plenty of buying interest.

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