USD/JPY extends recovery above 102.50

By FXstreet.com | August 18, 2014 AAA

FXStreet (Córdoba) - The USD/JPY is recovering ground Monday, having climbed to a high of 102.56 at the beginning of the New York session, underpinned by improving risk appetite.



Easing geopolitical concerns have made the yen surrender some of its Friday's gains. However, moves have remained subdued as investors gear up for big events this week. The Fed will publish its latest meeting minutes Wednesday, while Yellen will speak at the Jackson Hole symposium Friday.



At time of writing, the USD/JPY is trading at 102.51, up 0.17% on the day, having bottomed out at 102.13 Friday.



USD/JPY technical levels



As for technical levels, the USD/JPY could find immediate resistances at 102.70 (Aug 15 high), 102.91 (Aug 5 high) and 103.00/01(psychological level/Aug 1 high). On the flip side, supports are seen at 102.13 (Aug 15 low), 102.05 (100-day SMA) and 102.01/00 (Aug 11 low/psychological level).



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