However, “Capital flows towards the Japanese yen continue increasing, with the USD/JPY trading steadily below 77.20, 100 DMA an immediate resistance zone,” observes Valeria Bednarik, Chief Analyst at FXstreet.com. “Next key support is the 76.50 area, where the pair may bounce in the short term, if reached although bounce will likely be limited due the general bearish sentiment in regards of the pair.”

USD/JPY is 0.13% higher on the day with resistance levels at 77.20, 77.50 and 77.70, while support levels lie at 76.85, 76.50 and 76.20.