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    USD/JPY bounces off 105.60, eyes on 106.00 Pablo Piovano

    The Japanese currency is shedding part of its previous advance vs. its American peer today, with USD/JPY finding support around 105.60.USD/JPY focus on US releasesThe pair is losing ground for the third session in a row today, threatening to re-visit 2016 low at 105.52 (May 3) amidst increasing risk aversion in the global markets.Concerns over the likeliness of a ‘Leave’ win at the EU-UK Referendum next week remains the exclusive source of risk-off trade as of late, in turn exacerbating the inflows to the safe haven JPY and adding to the downside bias.Next on tap will be US advanced Retail Sales, expected to have expanded 0.3% during May, all ahead of tomorrow’s more relevant FOMC meeting.USD/JPY levels to watchAs of writing the pair is retreating 0.34% at 105.90 facing the immediate support at 105.63 (low Jun.14) followed by 105.52 (2016 low May 3) and then 105.18 (low Oct.15 2015). On the flip side, a break above 107.92 (high Jun.7) would aim for 108.38 (20-day sma) and then 108.82 (55-day sma). 

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