USD/JPY revisits daily lows, ignores positive equities

The USD/JPY pair faced rejection once again at 102.50 levels and fell towards daily lows, as the greenback continues to consolidate the recent gains backed by auspicious US jobs data.

USD/JPY capped by 102.50

The dollar-yen pair came under fresh selling pressure and dipped to session lows in the last hour, as the major failed to benefit from a risk-friendly market environment fuelled by higher European equities and a recovery in oil prices.

Moreover, the USD/JPY pair also lacks momentum as the US dollar trades modestly flat against its major peers, reversing gains seen earlier on the day.

At the time of writing, USD/JPY drops -0.14% to 102.32, hovering close to daily lows previously posted at 102.29. While the pan-European benchmark, the Euro Stoxx jumps +0.50%.

Markets now eagerly await the US economic releases due later in the NA session, which may provide fresh impetus on the US dollar.

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).