USD/JPY off-lows, regains 116.50 amid stalled USD selling

A fresh bout of buying interest is seen gripping the greenback in late-Asia, propelling a minor-recovery in USD/JPY from four-day troughs struck at 116.29 in the last hour.

The pair is last seen exchanging hands at 116.54, now looking to take on recovery back towards 117 handle. The bears took a breather after the US dollar found some support near 103.15 levels against its major peers, despite continued selling in the US treasury yields.

While a tepid-bounce seen in the Japanese stocks from session lows, also collaborated to the renewed upside in the major. The Nikkei 225 index drops -0.24% to 19,543, recovering from a dip to 19,495 lows.

Markets now shift their attention towards the US ADP and ISM non-manufacturing index releases due later today, as dust settles over the less hawkish FOMC minutes published late-Wednesday.

USD/JPY Technical levels to watch 

The major finds immediate resistance at 117 (round figure). A break above the last, the major could test 117.23 (1h 200-SMA) and 117.49 (daily pivot) beyond the last. While to the downside, the immediate support is seen at 116.29 (daily low) next at 116 (zero figure) and below that at 115.62 (daily S3).