USD/JPY a tad weaker around 113.20, US data eyed

The greenback is trading on a soft note vs. its Japanese counterpart on Thursday, taking USD/JPY to the 113.20 region for the time being.

USD/JPY focus on data, Dollar

The pair is retreating for the second consecutive session so far amidst a weaker buck and poor performance of yields in the US money markets.

The FOMC minutes on Wednesday did not bring in anything new from the Committee, with members in general expecting rates to go up ‘fairly soon’. Despite a rate hike at the March meeting is not ruled out, market participants seem to have scaled back part of its probability of occurrence, dragging with it US yields and the Dollar.

Later in the NA session, US Initial Claims are due along with the Chicago National Activity Index and the speech by Atlanta Fed D.Lockhart.

USD/JPY levels to consider

As of writing the pair is retreating 0.10% at 113.20 facing the initial support at 112.58 (low Feb.17) ahead of 112.03 (low Feb.2) and then 111.57 (low Feb.7). On the upside, a break above 113.78 (high Feb.21) would aim for 114.36 (high Feb.16) and finally 114.97 (high Feb.15).