USD/JPY finds support near 101.80 ahead of Brainard

The Japanese yen met further buying pressure today, dragging USD/JPY to the area of fresh lows around 101.80.

USD/JPY focus on Fedspeak

The pair is snapping a 2-session positive streak so far today, coming down from Friday’s tops just above the 103.00 handle as the upside momentum around the greenback has deflated somewhat.

Ahead in the session, the speech by FOMC’s L.Brainard (regarded as the most dovish member) will take centre stage, always against the backdrop of the potential timing of a Fed’s rate hike.

On the Japanese side, scepticism remains high ahead of the BoJ meeting due later in the month, with opinions still pretty divided on the probable announcement of extra easing by the central bank.

USD/JPY levels to consider

As of writing the pair is retreating 0.65% at 102.05 facing the immediate support at 101.18 (low Sep.7) followed by 99.53 (low Aug.16) and finally 99.08 (low post-Brexit Jun.24). On the flip side, a surpass of 103.50 (50% Fibo of the July-August down move) would aim for 104.33 (high Sep.2) and finally 104.84 (100-day sma).