The pair is moving up to the second session today, at the same time looking at breaking the weekly consolidation between the 108.00 and the levels just below the critical 110.00 psychological level.
The parity is tandemly traded on US currency markets with bond interest rates, 10-year bond interest rates rising in the second session, and testing session peers around 2.20%.
Later in the session, the USD could be pressured by the Fed Chairman Janet Yellen, who spoke at the Jackson Hole Symposium and could provide clues about the Fed‘s next steps in tightening and plans to reduce the balance sheet.
Data is expected to be released from the US on July durable goods orders.
The USD / JPY pair is currently trading at 109.66 with a gain of 0.09%.
Significant technical levels for USD / JPY
For the pair at 108.92 (21-day sma), 109.98 (23.6% Fibo 114.51-108.58) and 110.95 (16 August peak), 108.82 (August 24 bottom), 108.61 (August 21 bottom) and 108.58 Support.