USDJPY

Bank of Japan (BoJ) board member Seiji Adachi stuck to his slightly tightening rhetoric in his speech yesterday. The USD/JPY pair is struggling to maintain its gains above 157.00 after these slightly tightening comments. The risk aversion sentiment in the markets is pulling the pair down. The daily loss for the pair, which closed at 157.21 on the previous trading day, was 0.26%. The RSI indicator for the pair, which is above its 20-day moving average, is at 60.96, while its momentum is at 100.51. The 157.35 level can be followed for intraday upward movements. If this level is passed, resistance levels of 157.54, 157.87 and 158.06 may become important. In case of possible pullbacks, support levels of 156.84, 156.50 and 156.32 will be monitored. Support: 156.840 - 156.500 Resistance: 157.350 - 157.540