FXStreet (San Francisco) - The US Dollar is trading under pressure following a set of better than expected US data. Against the Japanese Yen, the greenback is testing daily lows around 103.60.
The USD/JPY was testing lows of short term 103.75/95 range throughout the day; but now it's tasting below it. Currently, USD/JPY is trading at 103.72, down -0.03% on the day, having posted a daily high at 103.97 and low at 103.60.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
"Looks like the USD rally is running out of energy. Despite very solid data across the board, the dollar is in consolidation mode," Jamie Coleman from FXBeat comments. "US yields are lower on the day, as well. with 10s now at 2.417%."
Coleman looks for "bids on dips to 103.40 in USD/JPY."