usdjpy2011The USD/JPY pair traded with a mild positive bias through the Asian session, albeit lacked any follow-through buying and remained capped below the 104.00 mark. Following the previous day's intraday pullback of around 50 pips, the pair managed to regain some positive traction on Friday and for now, seems to have snapped six consecutive days of losing streak.

The uptick was supported by optimism over reports that US Senate Republican and Democrat leaders had agreed to resume negotiations on another coronavirus stimulus package. That said, a fresh leg down in the US equity markets underpinned demand for the safe-haven Japanese yen and kept a lid on any further gains for the USD/JPY pair.