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).

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!