The US dollar traded lower versus Japanese Yen today, as most investors took their profits. USD/JPY cross slided down to 101.27 during the Asian session, which is the pairs lowest level since Friday . Support levels were fixed around 100.51-53, while the resistance levels – at 102.12-14, which is the crosss highest since October 2008.
Another possible reason for the slide is related with the expectations around the US economic data, due to be released later this week, encompassing the industrial production, inflation and economic sentiment.
Yesterday it became clear, that the retail sales indicator for United States rose by 0.1% on a monthly basis, introducing a slight rise of the USD/JPY cross above 102, which was supported also by the restraint of the Seven Industrialized Economies to criticize the course of Japanese policies.
Meanwhile, the yen was trading close to session lows against the euro, with EUR/JPY cross at 132.60. GBP/JPY was gaining on the day, trading at 155.96.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
