Despite US-Dollar weakness across the board, USD/JPY has held its ground. This is because the current risk-on market sentiment doesn't support the safe-haven JPY.
USD/JPY is close to a very important level 108 which will determine the next direction of this pair.
If bulls can successfully break this level, then the next target will be 109.25.
Based on the price action, the chances of bulls breaking this important level is increasing. It seems that the buyers are building momentum to break this 108 level.
USD/JPY is close to a very important level 108 which will determine the next direction of this pair.
If bulls can successfully break this level, then the next target will be 109.25.
Based on the price action, the chances of bulls breaking this important level is increasing. It seems that the buyers are building momentum to break this 108 level.
