FXstreet.com (London) - Nikkei has made small losses so far this session, off just 20bps. The Japanese stock market has been hit by a change in risk sentiment as reporting season gets into full swing and with big reports coming out from the other tier one investment banks.
USD/JPY is currently trading at 90.68, down off the open. Yen has bounced from early intraday lows of 90.52 to its current level. This session pair will likely trade fairly soft, range bound between 90.75 and 90.60.
For key support and resistance levels Valeria Bednarik, collaborator at FXstreet.com, guides us: Still pushing lower, pair continues approaching to 90.50 area, where 100 SMA in the daily chart has been capping the downside. However, pair bias remain bearish for next hours, as like comment earlier, seems a matter of time to see the pair breaking that zone and start another bearish leg. Bearish perspective remains intact also intraday, as long as under 91.20 resistance zone.