USD/JPY to increase the positive tone on a break above 109.35

USD/JPY consolidates modest gains above the 109.00 figure, still poised to advance although dollar’s weakness limits the upside. According to FXStreet’s Chief Analyst Valeria Bednarik, the bullish case would be stronger once above the 109.35 level.

See: USD/JPY has the 110.00 psychological mark in its crosshairs – OCBC

Financial markets are waiting for US employment and Durable Goods data

“Investors are now waiting for US data, as the country will publish Initial Jobless Claims for the week ended May 21, foreseen at 425K and April Durable Goods Orders, expected to have increased 0.7% in the month.”

“Bulls will have better chances should the pair break above 109.35, the immediate resistance level.”

“Limited dollar’s demand is putting a cap on USD/JPY.”