USD/JPY weaker, Rejected from 110.00

USD/JPY weaker, Rejected from 110.00

21 April 2016, 09:00
Roberto Jacobs

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).


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