FxWirePro: AUD/NZD tumbles lower after rejection at Triangle top, kiwi buoyed on RBNZ’s upbeat economic outlook
FxWirePro: USD/JPY grinds sideways at trendline resistance, US dollar barely moves in response to Biden's aggressive stimulus plan
USD/JPY chart - Trading View
USD/JPY was trading unchanged at 103.80 at around 03:35 GMT, with session high at 103.85 and low at 103.69.
The U.S. dollar shows muted reaction to the US President-elect Joe Biden's aggressive coronavirus rescue plan.
The stimulus was largely priced in by the markets. DXY rangebound after closing 0.13% lower on Thursday's trade.
USD/JPY spot grinds lower in Sloping Channel pattern on the daily charts. Recovery attempts were capped at daily cloud.
Major trend is bearish. The pair is currently holding support at 21-EMA at 103.67. Decisive break below will drag the pair lower.
On the flipside, 55-EMA is stiff resistance at 104.03. Breakout above cloud will change near-term bias.
Markets await critical US Retail Sales and Consumer Sentiment numbers for fresh direction in the prices.