USD/JPY riding yen weakness

By FXstreet.com | August 14, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.51, up 0.06% on the day, having posted a daily high at 102.53 and low at 102.44.



USD/JPY is holding up in the upper half of the handle on a weak yen while the Nikkei opens flat. Lee hardman at the Bank of Tokyo-Mitsubishi UFJ, Ltd explained explains that the Yen weakness reflects both improving global investor risk sentiment and building speculation that the BoJ may decide to accelerate monetary easing in response the loss of economic momentum in Japan to pressure companies to increase wages to support the economic recovery.



USD/JPY support and resistance levels



“Support levels: 102.30 101.95 101.60”.



“Resistance levels: 102.80 103.10 103.45”.



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY crashes below 106.50, more downside in store
    Forex News

    USD/JPY crashes below 106.50, more downside in store

  2. Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude
    Forex News

    Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude

  3. EUR/USD bulls wake up and drive pair above 1.2800
    Forex News

    EUR/USD bulls wake up and drive pair above 1.2800

  4. Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?
    Forex News

    Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?

  5. AUD/USD Range Endures With Clearer Cues From Candlesticks Desired
    Forex News

    AUD/USD Range Endures With Clearer Cues From Candlesticks Desired

Trading Center