UDS/JPY upside faltered near 121.00

By FXStreet FXStreet (Edinburgh) – The greenback is extending its upbeat momentum vs. its Japanese counterpart on Thursday, with USD/JPY now sitting in the upper-120.00s.

USD/JPY now news from BoJ, attention to FOMC

As widely expected by markets, BoJ’s Kuroda left to room for surprises at today’s press conference, stating that the economy continues to recover at a moderate pace while the central bank will continue to closely monitor events and make adjustments if necessary.

Next of relevance in the pair will be today’s FOMC meeting, where a hawkish tone by the Committee is expected in spite of market participants have almost ruled out a rate hike, with probabilities just below the 30% so far.

USD/JPY levels to watch

As of writing the pair is up 0.23% at 120.84 with the next hurdle at 121.33 (high Sep.10) ahead of 121.85 (high Aug.28) and finally 122.05 (high Aug.23). On the other hand, a breach of 119.40 (low Sep.15) would aim for 118.58 (low Sep.4) and then 118.45 (low Aug.25).
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Source:: FX Street