FXstreet.com (London) - Nikkei has traded up this session, building on a positive open. Nikkei currently trades up over 100 basis points this session at 10325 points. FED did not surprise the market which had did not react to a business-as-usual rates decision.
USD/JPY is currently trading at 90.20, up 23 pips from the open. Pair had gained over 80 pips in previous US trades and the bullish sentiment seems to continue. Both currencies are viewed as safe haven assets , USD/JPY suffers less volatility than other majors on flights away from risk.
For key support and resistance levels Valeria Bednarik, collaborator at FXstreet.com, guides us: Turning bearish in the hourly, pair is quite close to first support around 89.75/80 zone. Bigger time frames have no clear bias yet show pair losing past hours strength, supporting the downside. Support levels: 89.75 89.20 88.80. Resistance levels: 90.10 90.40 90.80.