FXstreet.com (London) - Nikkei is closed today for the banking holiday in Asia. The Japanese stock market pauses during the Japanese 'Coming of Age' holiday, after hitting one year highs of near 10800 points last Friday as appetite for risk seemed to reappear.
USD/JPY is currently trading at 92.32, approximately flat on the session. Pair is calm after volatile trading on Friday which saw the pair making swings of 100 pips twice in the session. During the holiday with thinner Asian trade, Yen is moving sideways in a tight range, operating between 92.45 and 92.22.
For key technical levels Valeria Bednarik, collaborator at FXstreet.com, guides us: Holding above 92.20 area, pair has regained the downside, after failing to break 200 SMA in the daily chart past Friday. Hourly charts show 20 SMA above current price and turning bearish, with indicators noisy after NFP report. 4 hours charts however, support further downside strength ahead if 92.20 supports gives up.