For quite some time, the USD/JPY has been trying to break through the 110.00 resistance level, which is crucial for a bullish performance and to avoid a crash.
The USD/JPY is still trying to break through the 110.00 psychological resistance to complete the upward correction.
Since the beginning of the week, the USD/JPY has settled around the 110.00 psychological resistance, also hitting the 110.45 resistance and settling around 110.05 as of this writing.
The USD/JPY has settled around the 110.00 psychological resistance as USD pairs anxiously await the US jobs numbers tomorrow.
The markets are awaiting the US job numbers, which may confirm Fed Chairman Jerome Powell's recent warning, or support expectations of a tightening of the bank's policy.
Even with a US dollar weakened by the Fed's comments at the Jackson Hole Symposium, the USD/JPY did not experience strong losses as did the other US dollar pairs.
The USD/JPY tried to settle above the 110.00 psychological resistance throughout last week's trading ahead of the Jackson Hole Symposium.
The US dollar is preparing to move against the rest of the other major currencies ahead of the Jackson Hole Symposium after allowing them in recent days to achieve some gains.
The USD/JPY has been moving in a narrow range, with markets and investors awaiting the Jackson Hole Symposium.
The USD/JPY will remain unstable until the much-anticipated Jackson Hole Symposium later this week.
The USD/JPY kept its bullish momentum last week to some extend, hovering around the 110.00 psychological resistance level, crucial for a bullish trend.
The US dollar fell against most of the other major currencies at the end of last week, after economic data showed a decline in US consumer confidence in August.
The US dollar fell after the release of US inflation data that indicated that inflationary pressure may be temporary, thus easing pressure on the Federal Reserve to tighten monetary policy.
Expectations of an increase in US interest rates helped boost the US dollar against the rest of the other major currencies.
The bulls have pushed the USD/JPY above the 110.35 resistance, where the pair is stabilizing as of this writing.