The US Dollar managed to extend gains against the Yen during the previous session. The pair reached a new March high, but a further advance were restricted by the monthly R1 at 107.53.
The Asian session began with a fall, as Trump’s proposal of new tariffs triggered risk-averse investors. By and large, it is likely that the monthly R1 pressures the rate lower during the following hours, while it remains guided by the 55-hour SMA.
The Greenback faces a relatively strong support area which is unlikely to be fully surpassed. However, some retracement down to the 100-hour SMA and the breached medium-term channel circa 106.50 might still follow.
The trading range for today is expected to be wide, as US employment data is published at 1230GMT
