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USD/JPY hits 2-week low into the weekly close

FXstreet.com (Córdoba) - The dollar has continued to weaken versus the yen and briefly dipped below the 100.80 level to print a fresh 2-week low of 100.66. However, USD/JPY found buyers and bounced back above the 101.00 mark ahead of the weekend.

At time of writing, USD/JPY is trading around 101.05, where it is 0.9% below its opening price and posts a 1.6% weekly loss.

"With Japan causing a minor financial storm coupled with soft Chinese data and mixed message from Ben Bernanke have all conspired to bring a temporary halt to the current bullish momentum", said Anna Coulling, analyst at Hawkeye. "However, the up trend for the pair does not appear to be over yet and once we clear the 103 price level then expect to see further sustained yen weakness as we move higher still and towards 110 in the longer term".

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