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Forex pairs in this Article » USD/JPY (Barcelona) - Having climbed overnight and into the European session, USDJPY has found an element of support at daily R1 Fibonacci resistance.

Spot posted a session low at 85.59 this morning before climbing to where it is currently trading at 85.75, where R1 can be found. An earlier foray higher in the early hours saw spot print a high at 85.89, just below daily Camarilla R3 resistance at 85.90. This morning has seen an understandably quiet economic calendar which has seen a slight improvement in French Consumer Confidence but a decline in Producer Prices. Italian Business Confidence also improved but UK Mortgage approvals slumped marginally ahead of the oncoming US session. US Initial and Continuing Jobless claims are due at 13:30 GMT ahead of Consumer Confidence and New Home Sales at 15:00 GMT. Danske Bank analysts are currently long USDJPY at 84.00 with a target of 86.46 and a stop at 84.90.
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