The Buck managed to outperform the Japanese currency yesterday, but barely succeeding in climbing over the 105.00 major level. Despite the miraculous rally, the Yen is expected to post gains against the US Dollar once again today, therefore, returning to the trading range between 104.00 and 105.00. A drop lower is unlikely, as the pair is supported by a strong cluster around 104.20, formed by the weekly S2, the monthly PP and the 20-day SMA. Technical indicators in the daily timeframe are unable to confirm this scenario, but the weekly and the monthly ones suggest the Greenback is to keep declining against the Yen.

  Market managed to obtain daily close below 107.00 which may hold short-run trading zone between 104.60 – 107.45 for the coming few days.

  The yen was able to grow against the other majors. Investors used the yen as a safe asset when Tokyo bonds market weakened after a 6 day rally.

  The yen kept falling and reached the three-week highs during Friday. The Japanese currency is under pressure after the Bonds market growth. If the situation does not change the Japanese regulator may implement new softening measures.

  Dolla/yen went for drop correction after 2 days rally as traders await stimulus details.