Flash: USD/JPY topside spotted at 101.50 – TD Securities

FXstreet.com (Lisbon) - The JPY has been weighed heavily recently – and over the past week – as Syrian related safe haven flows have abated and as minutes of the BoJ meeting acknowledge that their aggressive monetary policies have placed pressure on Japanese yields (in a USD/JPY supportive way), notes the TD Securities Team.

Key quotes

“The USD/JPY has now poked decisively above 100, and with the JPY testing key levels against several crosses there is be scope for a sharper depreciation for the currency if resistance is breached.”

“For the USD/JPY the July high near 101.50/55 is the next key level spotted on the topside.”