USD/JPY Extends the Upside Beyond 109.00
The Japanese Yen remains on the defensive today, helping USD/JPY to regain fresh 2-week tops beyond 109.00 the figure.
USD/JPY propped up by BoJ rumours, USD bid
The
buying interest around the greenback continues to give extra support to
the pair, advancing almost uninterruptedly since recent multi-month
lows in the mid-105.00s.
Furthermore, comments by Japan’s finmin
T.Aso earlier this morning have hinted at the likeliness of FX
intervention by the BoJ in case of unexpected volatility in JPY,
reinforcing ongoing rumours and adding downside pressure to the safe
haven.
USD/JPY levels to watch
As of
writing the pair is advancing 0.89% at 109.22 facing the immediate
hurdle at 110.86 (55-day sma) ahead of 111.92 (high Apr.28) and finally
113.73 (100-day sma). On the flip side, a breakdown of 105.52 (2016 low
May 3) would open the door to 105.18 (monthly low Oct.2014) and then
101.97 (monthly low Aug.7 2014).
