USD/JPY to extend its gains once beyond 108.95

The USD/JPY pair is poised to resume its advance in the near-term as trades near its recent highs after recovering from a daily low at 108.41, Valeria Bednarik, Chief Analyst at FXStreet, reports. 

See – USD/JPY: Levels between 109.00 and 110.00 to be the top for this current rally – MUFG

Key quotes

“The US will publish February inflation figures. The Consumer Price Index is foreseen at 1.7% YoY, up from 1.4% previously, while the core annual inflation is expected to have remained steady at 1.4%.”

“USD/JPY retains its bullish potential in the near-term. The pair would have better chances of rallying once above 108.95, the immediate resistance level.”