After climbing two days in a row, the pair USD/JPY remains under pressure on Friday, as the dollar is having difficulty extending its bullish momentum.
After staying at level 109 in the last hours, the pair was able to recover a small percentage of losses and now is traded at 109.10, a 0.2% less in the day. The index of the u.s. dollar rose to 99.90 in the opening of the american session, however, lost momentum and gave way to 99.80 as the performance of the bono of the Treasure to 10 years in the U.S. fell in the area negative. For the moment, the performance of the 10-year bond is losing a 0.56.
Earlier in the day, the YEN was able to stay resilient against the dollar amid positive data of Japan. The PMI advanced japanese manufacturing rose to 52.8 in April and exceeded expectations. Later in the session, the manufacturing PMI and existing home sales in the united States could be looks for some business opportunities in the short term.
Meanwhile, the main stock indices of the united States began the day in a positive way and if you are able to extend the strong gains of yesterday, the pair might struggle to continue receding, as the sentiment improved to make it more difficult for The YEN to meet the demand.
The immediate resistance for the pair is at 109.80 (DMA 200) pending 110 (psychological level) and 110.80 (march 27).
To the downside, a break below 109 (psychological level) would open the door to 108.10 (minimum of 17 April) and 107,75 (minimum of 15 April).