USD/JPY falls further towards post-FOMC lows

The USD/JPY pair halted its recovery from post-FOMC sell-off at Tokyo open, and since then remains on the lower bound of today’s trading range so far, now accelerating declines in tandem with the Japanese stocks.

The spot was last seen exchanging hands at session lows of 112.88, reversing a minor-uptick from above 113 handle, losing -0.31% on the day. While the Nikkei 225 index drops -0.50% to 19,040 levels.

The yen regained poise last hour after the Japanese PM Abe said that his administration has never conducted FX intervention during his tenure. While the US dollar reverts to lows against its main competitors, with the DXY meandering near 99.50 mark.

Later today, the major could get influenced by the BOE rate decision somewhat, while the US jobless claims is likely to have virtually no impact on the USD price-action.

USD/JPY Technical levels to watch 

The major finds immediate resistance at 113.48 (5-DMA). A break above the last, the major could test 113.68 (10-DMA) and 114.02 (20-DMA) beyond the last. While to the downside, the immediate support is seen at 112.59 (daily S1) next at 112 (round number) and below that at 111.53 (100-DMA).