USD/JPY trades up to a session high of 110.14
The dollar is slightly firmer to start the new week and that is keeping USD/JPY a little buoyed as the pair moves up nearly 0.2% to 110.14 currently.
In the grand scheme of things, the push and pull in the pair is still something that needs to sort itself out. Buyers are clinging on to near-term support around 109.60 but gains are also still more limited by daily resistance at 110.60-70 as well.
The choppiness in the past few weeks is clearly exemplified by the hourly chart:
As such, until there is a shove either back towards 109.00 or above key resistance around 110.60-70, the pair is still very much caught in a tug of war for now.
Leave a Reply