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).