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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY continues to trade sideways above 102.00. Stocks in Japan are plunging, the Nikkei 225 is falling more than 2.50%. Risk aversion is dominating the first minutes of the session favoring the Yen across the board. Also new economic data from Japan was released: retail sales rose 0.8% in December, above expectations.

USD/JPY remains sideways

After the FOMC statement, the USD/JPY bottomed at 101.82 but bounced quickly to the level it had before. In the last hours of the American session the pair traded within a range, with support at 102.00 and resistance at 102.35.

Despite risk aversion price action continues to be limited to the mentioned range. On a wider view, the USD/JPY remains under pressure after dropping 140 pips from Wednesday’s high to test weekly lows.
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