The US dollar is trading above the pivotal 109.00 level against the Japanese yen currency after finding strong support from the 108.70 area. Traders may use any rallies back towards the 109.30 resistance area as a chance to sell the USDJPY pair from a better level. Market participants will also be mindful that the US Federal Reserve interest rate decision is happening later today.
The USDJPY pair is only bearish while trading below the 109.30 level, key support is found at the 108.70 and 108.40 levels.
The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.70 and 110.20 levels.
