USDJPY

The Japanese Yen (JPY) rose against its US counterpart in the Asian session on Tuesday, recovering some of the losses it recorded the day before, falling to its lowest level in 34 years. Investors are on the alert due to speculation that Japanese authorities will intervene in the markets soon, which is seen as a major factor supporting the JPY. However, a meaningful appreciation movement still seems unlikely due to expectations that the interest rate gap between the US and Japan will remain wide. The 154.65 level can be monitored for intraday downward movements. If it falls below this level, supports at 154.56, 154.42 and 154.33 could become important. In possible increases, resistance levels at 154.79, 154.88 and 155.02 will be monitored. Support: 154.560 - 154.420 Resistance: 154.880 - 155.020