USD/JPY low on weak US dollar

[ronaldfx]

The cross almost pared all the gains made in yesterday’s rally, topping overnight at 77.95 to fall since then as low as 77.69 along with the greenback.
US Initial/continuing jobless claims are due later on in the European afternoon although market participants will be focused in the 10-yr Italian bond auction as a gauge of the market confidence.

As of writing the cross is losing 0.30% at 77.70 facing the first support level at 77.56 (low Dec.28) ahead of 77.49 (low Dec.9) then 77.43 and 77.26
On the flip side, a breakout of 78.23 (high Dec.23) would bring 78.29 (high Nov.29) then 78.42 (high Nov.2) and 79.10 (high Nov.1).

FXstreet