- USD/JPY edges lower from fresh four-week highs near 111.80 levels in the Asian session, bias still higher.
- Hawkish comments from the FOMC member Dudley overnight buoyed the dollar.
- Dudley said that he is confident US inflation will rebound and Fed remains on track to raise interest rates in the coming months.
- On the other hand, last week BoJ held interest rate unchanged in a 7-2 vote and reaffirmed continuation of its yield curve control policy.
- Monetary policy divergence between the Fed and BOJ also remains a big positive for the pair.
- Focus on upcoming Fedspeaks later today for further impetus. Upside intact as long as pair holds above 200-DMA.
- Technical indicators for the pair support upside, break above cloud base at 111.81 could see further upside.
Support levels - 111, 110.91 (5-DMA), 110.69 (20-DMA)
Resistance levels - 111.48 (100-DMA), 112, 112.15 (38.2% Fib of 118.662 to 108.130 fall)
Call update: Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-consolidates-break-above-200-DMA-bias-higher-761734) has hit TP1&2.
Recommendation: Bias higher. Book partial profits at highs, hold for 112/ 112.15/ 112.95
FxWirePro Currency Strength Index: FxWirePro's Hourly USD Spot Index was at 50.8685 (Bearish), while Hourly JPY Spot Index was at -58.9738 (Neutral) at 0520 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


FxWirePro- Major European Indices
FxWirePro: GBP/NZD gains some upside momentum but still bearish
AUDJPY Range Play: Hold 102.95 Support, Target 105 on Breakout
FxWirePro: GBP/AUD recovers slightly but bears are not done yet
FxWirePro: GBP/AUD gives up early gains after UK GDP shock
Bitcoin Yawns at Fed Cut – Coiled Tight at $92K: $90K Hold = Straight Shot to $100K
Sterling Crushed by Double-Contraction GDP – EURGBP Spikes, Next Stop 0.8850–0.8900
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
NZDJPY Poised to Pop: Buy-the-Dip Setup Above Key 90 Support
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD outlook weaker on renewed downside pressure
FxWirePro- Major European Indices
FxWirePro: EUR/AUD moves higher following downbeat Australian jobs report
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies Pivot(Major) 



