FxWirePro: USD/JPY trades marginally higher on Kuroda's comments, upside limited ahead of US-China trade talks

USD/JPY chart on Trading View used for analysis

• USD/JPY is trading 0.13% higher on the day at 110.76 at around 0830 GMT.
   
• The major is extending marginal gains as JPY weighed down by the possibility of further BoJ policy easing.
   
• Speaking at the Japanese parliament, BoJ Governor Haruhiko Kuroda raised the possibility of further policy easing.
   
• Kuroda said that the central bank is ready to ramp up its stimulus if a sharp appreciating in the domestic currency hurts the economy and threatens its 2% inflation target. 
   
• That said, nervousness ahead of the next round of US-China trade talks underpinned the Japanese Yen's relative safe-haven status, limiting upside in the pair.
   
• Upside is currently capped at 61.8% Fib at 110.77. Break above finds next major resistance at 110-EMA at 110.91.
   
• On the flipside, the pair is holding strong support at 55-EMA at 110.44. Break below will see weakness till 21-EMA at 110.09.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.