- The yen nursed losses against the dollar on Thursday, pulling USD/JPY up 0.1 percent to 120.03
- Gains in Chinese equities helped underpin risk sentiment and dampened demand for the safe haven Japanese currency
- The major failed to hold above the 120 barrier, fell to fresh session low of 119.79 and is currently trading at 119.98
- Immediate resistance is seen at day’s highs by 120.03, while supports on the downside are located at 119 and below that at 118.43 (Aug 26 Low)
- Some nearby option expirations today at 120.00 – USD312 mln
- Markets await US Q2 GDP figures ahead of a slew of Japan’s macro releases due tomorrow for further direction
The material has been provided by InstaForex Company – www.instaforex.com