USD/JPY riding yen weakness

By FXstreet.com | Updated 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”.



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