USD/JPY stages solid-comeback, back at 102.50

The USD/JPY pair staged a solid comeback from a dip below 102 handle, as the greenback appears to have regained poise amid easing risk-off sentiment.

USD/JPY retests 50-DMA

The dollar-yen pair managed to recover ground somewhat over the last hours, and jumped back above 102 handle as the greenback erased losses and jumped back on the bids against its major peers, as markets prefer to hold the US currency heading into a flurry of US economic reports due to be published later in the NA session.  

The ongoing recovery in the major is also partly attributed to easing risk-off market conditions, as the Japanese stocks stalled its downslide and now trim losses heading into closing hours.

At the time of writing, USD/JPY trades almost unchanged at 102.43, while the Nikkei 225 index now drops -1.20% and USD index edges +0.06% higher at 95.40 levels.

Next of note for the major remains the US retail sales data, which will kick-off a data-packed US session ahead. In the meantime, ongoing BOJ chatter will continue to influence the major.

USD/JPY Technical levels to watch

In terms of technicals , the immediate resistance is located at 102.67 (daily pivot). A break above the last, the major could test 103 (round number). While to the downside, the immediate support is seen at 101.54/40 (Sept 12 & 13 low) and below that at 101.18 (multi-week lows).