FXStreet (Edinburgh) - The Japanese yen has reclaimed part of the recent ground lost to the greenback, now sending USD/JPY to the 120.75/70 area.
USD/JPY capped by 121.30
Spot has quickly faded the spike to the boundaries of 121.50 after Japanese Government’s Yamamoto has suggested further easing by the BoJ in order to clinch the inflation target at some point during Q1 2016, triggering an immediate knee jerk in the yen.
Empty docket in Japan will leave the attention to USD-dynamics today, where the usual weekly report on the US labour market, Import and Export Prices are all due.
USD/JPY levels to watch
As of writing the pair is up 0.26% at 120.82 facing the next up barrier at 121.33 (high Sep.10) followed by 121.75 (high Aug.27) and finally 122.05 (high Aug.23). On the flip side, a breakdown of 119.80 (low Sep.9) would expose 118.58 (low Sep.4) and then 118.45 (low Aug.25).
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