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USD/JPY rebound today stalls ahead of technical resistance at 142.53

Yesterday the USD/JPY managed to rebound pretty well, from an earlier Asian low at 140.97. The dollar kept rising above 142, but fell back each time. The USD/JPY later closed in the US at 141.89. Earlier today it lifted once more and the rebound reached a high at 142.47. It has backed away from that high now though. The obvious reason for the push towards 142.50 was due to the slight gains in US yields. The drop back from that earlier low was set at 141.57. It is back above 142 again now and as you can see it is proving to be resilient, if nothing else. The reason for it stalling earlier at 142.47 could be due to resistance ahead of the 200 day moving average, which is in place this morning at 142.53. That could be a major hurdle against further upside ahead of the weekend. So, the current mode of selling into rallies appears to remain intact so far today. The USD/JPY is currently trading at 142.00
 

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