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The USD/JPY pair has posted a modest intraday advance, reaching a daily high of 108.96, to then retreat and currently trade at around 108.75. Bears rule as 109.00 caps the upside, Valeria Bednarik, Chief Analyst at FXStreet, briefs.

The US Michigan Consumer Sentiment Index is foreseen at 89.6 in April

“The US will release March Housing Starts and Building Permits and the preliminary estimate of the April Michigan Consumer Sentiment Index, foreseen at 89.6 from 84.9 in the previous month.”

” USD/JPY maintains its bearish stance. The pair bottomed for the week at 108.60, with a break below the level opening the door for a test of the 108.00 level.”