USD/JPY eases lower as markets keep more mixed
The dollar is still keeping slightly firmer on the day but USD/JPY is starting to ease lower, falling below its 100-hour MA (red line) as sellers look to seize near-term control.
In the equities space, European stocks are keeping modest gains while US futures are up by just around 0.4%. All of this continues to hint at mixed markets for now.
The 100-hour MA in USD/JPY is a key near-term level to watch as we look towards North American trading. A break below that will see sellers start to regain near-term control and look towards support around 107.50 and 107.25-30 next.
As for buyers, more work needs to be done in chasing a move back above 108.00.
The next key risk event on the day will be the US weekly jobless claims at 1230 GMT. Let’s see if that has the potential to sway the mood in the market later today.