USD/JPY consolidating below the 109 handle in Tokyo open

Currently, USD/JPY is trading at 108.85, down -0.22% on the day, having posted a daily high at 109.17 and low at 108.59.

USD’s mature-looking secular bull trend to moderate in late 2017 - Scotiabank

US Dollar Index: eighth daily gain in a row

USD/JPY fell below 109 handle in early Asia continuing the downside from 109.73 with Satoshi Fujii who was speaking earlier as the adviser to the Cabinet Office and says to add 21 trillion yen to the primary budget for the next fiscal year and in subsequent years. Fed's Harker: Unemployment on Fed's target, inflation running low

Lee Hardman, Currency analyst at Bank of Tokyo Mitsubishi explained that the positive economic developments could become more negative for the yen, "if evidence started to emerge that underlying inflation pressures were picking up," explained Hardman further on his outlook."

USD/JPY levels

Spot is presently trading at 108.85, and next resistance can be seen at 109.09 (Daily Open), 109.14 (Hourly 20 EMA), 109.17 (Daily High), 109.18 (Monthly High) and 109.18 (Weekly High). Next support to the downside can be found at 108.77 (Yesterday's Low), 108.76 (Daily Classic PP), 108.73 (Weekly Classic R1), 108.59 (Daily Low) and 108.17 (Daily Classic S1).