During Friday's Asian session, USD/JPY had no directional trend and fluctuated between a low income and a minimal loss.
The pair also failed to take advantage of the rebound of the previous round of lows. After that USD/JPY was in a compressed range, below the key psychological mark 110.00. Stability in terms of global risk sentiment, provided better demand for the safe yen, as well as influenced the positive trends in the majority market.
While investors preferred a more passive position, the bullish tone around the US dollar further softened the inverse trend.
It is worth mentioning the impact of the latest news from Hubei region on the global market sentiment. Thus, on Thursday the data on a dramatic increase in the number of infected, as well as deaths, the number of which approached 1400 was published.
Accordingly, it is a reasonable recommendation to wait for steady trends in the breakthrough of the intra-day range before choosing cardinal actions. The market also expects the solid U.S. retail sales data and the Michigan consumer sentiment index to generate some meaningful trading momentum.