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USD/JPY bears testing the 108 handle in Tokyo

FXStreet (Barcelona) - USD/JPY is trading at 108.00, down -0.25% on the day, having posted a daily high at 108.33 and low at 108.00.

USD/JPY is suffering in the Tokyo open, moving lower against the theme overnight, where US stocks and performances left the Yen for dust. There were big gains on the stocks in the US with the DJIA adding more than 300 points on the day and the S&P close to 2% gains. The pair is now currently testing the 108 handle and denying the bulls. There is little out today in the way of data form Asia though entering the closing session but we did have Japan's Finance Minister Taro Aso hitting the wires saying that they are aiming to get out of deflation; not aiming to weaken the Yen.

USD/JPY noteworthy levels

With spot trading at 108.00, we can see next resistance ahead at 108.03 (Daily Classic R3), 108.27 (Daily Open), 108.33 (Daily High), 108.37 (Yesterday's High) and 108.99 (Weekly Classic R2). Support below can be found at 108.00 (Daily Low), 107.94 (Weekly Classic R1), 107.91 (Hourly 20 EMA), 107.71 (Daily Classic R2) and 107.42 (Daily Classic R1).

NZD/JPY back out of the reach of the bears

NZD/JPY is trading at 84.67, down -0.03% on the day, having posted a daily high at 84.83 and low at 84.38.
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