USD/JPY: The 200-DMA at 108.36 is the short-term target

USD/JPY is prolonging the multi-session side-line theme for yet another day on Thursday as the continuation of the consolidative stance between 106.00 and 110.00 is seen unchanged for the time being, FXStreet’s Pablo Piovano reports.

Key quotes

“The 200-day SMA, today at 108.36, remains the near-term target. Further up is located the 110.00 neighbourhood. If cleared, this should open the door to a potential test of 2020 highs in the 112.00 region.”

“On the downside, if 106.00 is breached on a sustainable fashion, then there are no relevant supports until the February-March sell-off to the vicinity of 101.00.”