USD/JPY retraces to 108.60

FXStreet (San Francisco) - After testing the 109.00 area while reaching a fresh multi-ýear high of 108.95, the USD/JPY is now trading back at 108.60 where the pair is taking a breath in the second part of the American session.

Currently, USD/JPY is trading at 108.67, up 0.27% on the day, having posted a daily high at 108.97 and low at 108.31. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index also is neutral.

USD/JPY sentiment

If the pair extends gains beyond 109.00, it will face resistances at 109.10, 109.40 and 109.75. On the downside, supports are at 108.40, 108.00 and 107.65.