USD/JPY Price Analysis: US dollar sidelined vs. Japanese yen, trading near 109.00 figure

 

 

USD/JPY is trading above the 100/200 SMAs as the spot is trying to stabilize above the 107.00 handle amid slightly better market mood. 

 

 

USD/JPY is holding above the 108.70 level and the main SMAs on the four-hour chart as buyers are looking for an extension up en route to the 110.00, 111.00 and 111.70 resistance levels on the way up while support should emerge near the 108.70, 108.00 and 107.00 levels.