USD/JPY weaker, Rejected from 110.00
The Japanese currency is marginally up vs. its American peer on Thursday, with USD/JPY navigating a narrow range in the upper-109.00s.
USD/JPY looks to risk trends, US data
The
pair is giving away gains for the first time since Monday, while the
psychological handle at 110.00 the figure continues to cap bullish
attempts so far.
The risk-on trade now seems to be taking a
breather after equity markets in Asia has outperformed once again,
weighing on JPY during most of the week.
Next on tap will be
releases in the US economy, with Initial Claims and the regional gauge
of the manufacturing sector tracked by the Philly Fed index.
USD/JPY levels to watch
As
of writing the pair is retreating 0.18% at 109.64 and a break below
107.65 (2016 low Apr.12) would expose 105.18 (monthly low Oct.2014) and
then 100.74 (monthly low Feb.4 2014). On the flip side, the next up
barrier lines up at 110.26 (20-day sma) followed by 110.77 (high Apr.15)
and finally 112.20 (55-day sma).
