USD/JPY fails to sustain above 102.50

The USD/JPY pair gave up the bids and now slips back into the red zone, as sentiment appears to have soured after the Chinese datasets came out mixed.

USD/JPY eyes 5-DMA at 102.00

The US dollar is now losing the bullish momentum versus its Japanese rival heading into mid-Asia, sending the USD/JPY pair lower from above the mid-point of 102 handle as risk sentiment comes under mild pressure amid lower commodities and mixed Asian equities.

However, the downside remains cushioned as the greenback hovers within close proximity to fresh weekly tops reached post-NFP report. At the time of writing, USD/JPY eases to 102.36, deflating from 102.53 highs, and records -0.10% loss on the day. Meanwhile, the USD index now trades +0.14% higher at 96.42.

Looking ahead, the major will continue to get influenced by persisting risk trends amid a lack of fresh fundamental drivers on the cards until the NA session today.

USD/JPY Technical levels to watch

In terms of technicals , the immediate resistance is located at 102.53 (daily top). A break above the last, the major could test 102.67 (4-day highs). While to the downside, the immediate support is seen at 101.99 (5-DMA) and below that at 101.50 (psychological levels).