Yen settles higher for first session in five

USD/JPY tilted lower in Asian trade after Federal Reserve Chair Jerome Powell's speech in Washington, and after earlier Japanese data. 

As of 05:55 GMT, USD/JPY barely inched down to 109.94, with a session-low at 109.73, and a high at 110.03. 

Earlier Japanese data showed a leading composite index for other economic gauges down to 97.9 as expected from 99.1, while Bank of Japan governor Haruhiko Kuroda said the Japanese economy improved markedly since 2013, while inflation prospects improved as well recently, but still not at targeted levels. 

It's worth noting the Japanese government announced a 10-year holiday starting April 27 in celebration of the new Emperor's coronation in early May, making it the longest holiday in Japan's history. 

Federal Reserve Chair Jerome Powell delivered opening remarks at a virtual town hall meeting for teachers nationwide, in Washington DC, where he warned from low productivity and the widening wealth gap as the biggest challenges facing the US, with lower wages growing much more slowly than higher-bracket wages. 

Now investors await US unemployment claims data for the week ending February 2, expected to show a surge of 33 thousand to 253 thousand from 22, while continuing claims are estimated with a 31K drop to 1.751 thousand from 1.701 thousand.