The greenback remains on the defensive so far on Thursday, now dragging USD/JPY to fresh lows in the 113.65/60 band.
USD/JPY attention to US docket
The pair is retreating for the second session in a row today, coming down from Wednesday’s peak in levels just shy of the critical 115.00 handle.
The renewed decline has been fuelled by the persistent unwinding of the Yellen-induced rally in the greenback, echoing in deflating yields in the US money markets, with the 10-year benchmark easing from highs above 2.52%.
Positive results from the US docket on Wednesday plus USD-supportive comments from FOMC’s Harker, Lacker and Rosengren failed to give further continuation to the Dollar’s upside, which stalled around the 101.70 area when tracked by the US Dollar Index.
Later in the NA session, US Housing Starts, Building Permits and the Philly Fed manufacturing index are all due.
USD/JPY levels to consider
As of writing the pair is retreatig 0.45% at 113.64 and a breach of 113.39 (20-day sma) would aim for 113.21 (low Feb.14) and then 112.84 (low Feb.10). On the upside, the next hurdle aligns at 114.97 (high Feb.15) followed by 115.02 (55-day sma) and finally 115.39 (high Jan.27).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.