The USDJPY was seen trading flat on Tuesday with the yen advancing just 0.04% against the greenback. The sentiment continues to remain in check with the Fed and Brexit themes keeping the risk appetite on the back foot. The BoJ’s monetary policy minutes were released earlier today which has helped the greenback post modest gains during the Asian trading session.
Will USDJPY Breakout From The Consolidation?
The currency pair has been trading rather flat above the 111.40 level of support after previously reaching highs of 112.11. The USD got a boost earlier today from the BoJ’s minutes. However, the USDJPY is yet to post any meaningful highs. The resistance level of 111.98 will remain the key upside target in the short term. A breakout above this level would be needed for the currency pair to test the next main level of 112.51.
