During the early hours of the European day on Thursday, the USD/JPY consolidates intraday losses at 133.85.
In doing so, the Yen pair validates the US Dollar’s recent rally, which is primarily due to risk-averse stories surrounding China and Ukraine.
However, falling US Treasury yields and the Bank of Japan’s (BOJ) active performance in recent days appear to be putting buyers on the defensive.
Looking forward, risk aversion may reignite USD/JPY buying, although a rise in US Initial Jobless Claims may weigh on prices during a likely lacklustre session.
The USD/JPY pair’s immediate upside is guarded by a confluence of the 200-HMA and the support-turned-resistance line stretching from December 20, about 133.95, swiftly followed by the 134.00 round figure.
|
Daily SMA20 |
135.18 |
|
Daily SMA50 |
140.23 |
|
Daily SMA100 |
141.12 |
|
Daily SMA200 |
136.13 |
