USD/JPY finds support near 102.00

The greenback seems to have found some support near the 102.00 vs. its Japanese peer today, with USD/JPY now hovering over the 102.20/25 band.

USD/JPY looks to Fedspeak

Choppy week for the pair so far, although it remains well on its way to close the week with losses after two consecutive advances from lows in the mid-99.00s (August 16).

The renewed and intensified selling interest around the greenback has been almost exclusively behind the down move, although JPY gains have been also derived from the swelling scepticism surrounding the BoJ and the likeliness of further easing at its meeting later in the month.

In the data space, Japanese relevant Tertiary Industry Activity Index rose 0.3% MoM, missing expectations and down from the previous 0.7% gain. In the US, Boston Fed E.Rosengren (voter, dovish) is due to speak later in the NA session.

USD/JPY levels to consider

As of writing the pair is retreating 0.31% at 102.16 facing the immediate support at 101.64 (20-day sma) followed by 101.23 (78.6% Fibo of the July-August down move) and finally 99.53 (low Aug.16). On the flip side, a surpass of 102.65 (55-day sma) would aim for 104.33 (high Sep.2) and finally 104.44 (38.2% Fibo of the July-August down move).