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FxWirePro: USD/JPY edges lower from session highs at 120.98, await fresh cues from the European open

Friday, October 23, 2015 4:36 AM UTC

USD/JPY losses momentum and trades around a flat around 120.63, after hitting session highs at 120.98
Yen supported by impressive Japan's flash manufacturing PMI, which came in at the highest levels since March 2014
The Nikkei Flash Japan Manufacturing Purchasing Managers' Index (PMI) rose from 51.0 in September to a preliminary 52.5 in October
However, the downside remains restricted as the persisting risk-on rally in Asian equities continues to support the USD
Markets await fresh cues from the European open for further momentum, focus also shifts towards next week's FOMC and BOJ decisions amid a data-deficient macro calendar today
USD/JPY is currently trading at 120.66, with immediate resistance at 120.93 (200 DMA) and support on the downside at 120.20 (cloud top)

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FxWirePro: USD/JPY edges lower from session highs at 120.98, await fresh cues from the European open

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