USD/JPY bounces-off a dip below 102, US data in focus

The USD/JPY pair extends its side-trend below 102.20 levels in the European session, with the bulls managing to keep the bids and regain 102 handle over the last hour.

USD/JPY holds well above 5-DMA at 101.92

The dollar-yen pair struggles to extend the upside as the yen bulls continue to fight for control in wake of negative sentiment around the European markets and fresh selling seen in the oil prices.

Moreover, markets prefer to park their funds in the safe-havens such as the JPY amid increased anxiety ahead of the highly influential macro reports from US, which includes the retail sales, PPI and consumer sentiment data.

Meanwhile, markets also turn their attention towards Monday’s Japanese preliminary GDP and industrial figures for further momentum on the USD/JPY moves.

USD/JPY Technical levels to watch

In terms of technicals , the immediate resistance is located at 102.34 (daily R1). A break above the last, the major could test 102.50 (psychological levels). While to the downside, the immediate support is seen at 101.67 (10-DMA) and below that at 101.28 (daily S1).