USD/JPY has managed to find decent support at 109.30 on Monday, posting slight gains beyond mid-109.00 level. The pair is still struggling despite the ongoing rebound in the Greenback.
The broader view of the pair suggests that price is maintaining sidelined theme over multiple weeks while the US 10 year bonds yields are also flat, providing no stimulus to the market.
Further, the pair will be largely affected by headlines related to US-China trade dispute and FOMC meeting due on Wednesday.
Levels to Consider
Immediate support for the pair is at 109.30 ahead of 109.00 and then 108.60. On the flip side, immediate hurdle for the pair is at 109.60 followed by 110.00 and the 111.40.
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