USD/JPY Directionless Around 111.00
USD/JPY continues to trade directionless around the
111.00 level, unable to set short-term direction as investors remain
sidelined ahead of the Fed and the BoJ monetary policy decisions to be
announced over the next hours.
USD/JPY attempted to consolidate
modest gains during the European session but it was rejected from the
111.38 area and pulled back. At time of writing, the pair is trading at
111.15, 0.13% below its opening price.
On the data front, US
pending home sales data will be released during the American morning
along with the Government oil inventories report, but main attention
remains on upcoming central banks’ announcements.
USD/JPY technical levels
In
terms of technical levels, next resistances could be found at 111.71
(50-day SMA), 111.87 (Apr 25 high), 112.57 (Apr 1 high) and 113.79 (Mar
29 high). On the downside, immediate supports are seen at 110.65 (Apr 26
low), 109.91 (20-day SMA) and 109.25 (Apr 22 low).
