FXStreet (Edinburgh) – The Japanese currency remains the best performer today in the G10 space, now keeping USD/JPY around the mid-119.00s.
USD/JPY attention to US calendar
The demand for the safe haven JPY has been steady since the very beginning of today’s session in Asia, dragging spot from the 120.60 area to as low as 119.40, where is now trying to rebound.
Ahead in the session US Retail Sales will be the main highlight for the pair, while the Empire State manufacturing index, Industrial Production and Capacity utilization area also due.
Earlier in the session, the BoJ kept its monetary stance unchanged while Governor H.Kuroda expects domestic consumer prices to head towards the 2% inflation target at some point during the first half of the next year.
USD/JPY levels to watch
As of writing the pair is losing 0.51% at 119.61 and a breakdown of 119.40 (low Sep.15) would aim for 118.58 (low Sep.4) and finally 118.45 (low Aug.25). On the flip side, the immediate resistance is located at 120.67 (high Sep.15) followed by 120.85 (high Sep.14) ahead of 121.33 (high Sep.10).
(Market News Provided by FXstreet)