FXstreet.com (London) - Nikkei has retained its gains this session, trading sideways since opening up 70bps. The Japanese stock market has followed the US, buoyant on imporvent outlook, as suggest by IBM better than expected figures. Market now bets on the other important financials due out this week.
USD/JPY is currently trading at 91.45, down off the open. Pair has continued trading tightly range bound, following the sideways trend seen in the US session today around the 91.15 level. This session pair will likely trade fairly soft, range bound between 91.27 and 91.05.
For key support and resistance levels Valeria Bednarik, collaborator at FXstreet.com, guides us: As comment on previous update, pair remains slightly bullish in the hourly chart, thus still under 91.20 resistance area.20 SMA under current price and with a bullish slope support further rises as well as probable rise in Nikkei, following American indexes. Pair should hold above 90.80 support zone to keep current perspective intact.