Previous trade balance figures showing a bigger trade deficit than expected, despite increasing exports, led to USD/JPY topping around mentioned session highs, for now back about flat for the week, still above yesterday's weekly lows at 93.29. Local share markets show a mixed picture, with Nikkei still in the positive up +0.64%, along with Kospi higher by +1.40%, while Hang-Seng is flat. Oil jumped above the $96 mark, one of big causes for Japanese deficit as crude imports coupled with weaker Yen have imbalanced the trade flows.
Immediate support to the downside for USD/JPY lies at recent session lows 93.35, followed by yesterday's weekly lows at 93.29, and Feb 07 lows at 93.07. To the upside, closest resistance comes at Feb 08/13/14/15/session's highs 93.74/84, followed by Feb 06 highs at 94.07, and Feb 18 highs at 94.22.