USD/JPY points to highs near 102.60

By FXstreet.com | August 15, 2014 AAA

FXStreet (Edinburgh) - The greenback is now gathering steam vs. the Japanese currency, lifting the USD/JPY to session highs around 102.60.



USD/JPY boosted by risk



The recent resurgence of the risk appetite amongst traders is bolstering the current upside momentum in the pair, keeping the weekly topside at/above the mid-102.00s. Ahead in the day, US Industrial Production figures (0.3% exp.) and the Consumer Sentiment tracked by the Reuters index (82.5 exp.) will be the main events in the NA session. “The yen is also being undermined by building expectations that the BoJ may decide to accelerate their pace of easing in response to the loss of economic momentum in Japan”, noted Lee Hardman, Currency Analyst at BTMU.



USD/JPY key levels



At the moment the pair is up 0.12% at 102.58 facing the next resistance at 102.93 (high Jul.5) followed by 103.05 (high Aug.1) and then 103.15 (high Jul.30). On the downside, a break below 102.31 (low Aug.14) would aim for 102.23 (low Aug.13) and finally 102.22 (Tenkan Sen).



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. USD/JPY Daily Outlook - September 19
    Investing

    USD/JPY Daily Outlook - September 19

  4. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center