USD/JPY wobbles around 104.30

The greenback has given away initial gains vs. its Japanese counterpart on Friday, taking USD/JPY to the 104.30 region after briefly testing 104.80 in early trade.

USD/JPY attention to risk trends, US data

‘Brexit’-led risk aversion sentiment has boosted the demand for the Japanese safe haven throughout the week, prompting spot to test levels last traded in August 2014 around 103.50 on Thursday.

The pair is now posting meager gains in the 104.30 area following news that ‘Brexit’ campaign will be halted today and rumours of a probable coordinated central bank action in order to provide USD funding in case the UK leaves the EU next week.

On the data front, the US housing sector will be in the limelight, with Housing Starts and Building Permits expected later in the NA session.

USD/JPY levels to consider

As of writing the pair is gaining 0.02% at 104.28 facing the immediate hurdle at 107.92 (high Jun.7) followed by 108.64 (55-day sma) and then 110.93 (100-day sma). On the other hand, a breach of 103.53 (2016 low Jun.16) would aim for 101.49 (low Aug. 8 2014) and then 101.04 (low Jul.10 2014).