Tue, Jan 31, 2023 @ 23:31 GMT
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USDJPY Gaining Traction Above 106.00 Level

The U.S dollar has regained upside momentum against the Japanese yen during a quiet European trading session, with intraday buyers reclaiming the 106.00 handle. The USDJPY pair has suffered from depressed trading volumes, with price-action moving in a thirty-point trading-range ahead of a series of market risk-events. USDJPY traders now look towards the upcoming BOJ policy decision and Friday’s Non-farm payrolls job report for February.

The USDJPY pair is likely to edge higher whilst trading above the 106.00 level, further intraday upside towards the 106.22 and 106.45 levels remains possible.

Should USDJPY price-action move convincingly below the 106.00 level, sellers may test towards the 105.50 and 105.24 support regions.

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