USD/JPY trading around 109.00 - FXStreet

FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik observes, USD/JPY is trading close to the 109.00 level on Thursday, with a short and longer term bullish bias.

Key quotes

"The 1 hour chart shows indicators regaining the upside with momentum recovering from its midline, while 100 and 200 SMAs advanced further: the shortest one now converges with a strong Fibonacci support around 108.25."

"In the 4 hours chart, indicators look exhausted in overbought territory, but remain far from suggesting a bearish correction."