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USD/JPY posts fresh 3-week lows and bounces back above 101 again

FXstreet.com (Barcelona) - USD/JPY is last at 100.87, off recent fresh 3-week lows at 100.57, breaking briefly below previous support area around the 100.60/70 level, on the back of heavy selling since in early Tokyo trade, taking down Nikkei index below the 14k points mark.

Last at 13913, the Nikkei is down -2.88% for the session, adding to more than -13% in losses since past Thursday when posting fresh 5.5-year highs shy of the 16k point mark. The USD/JPY has found support at the exact daily low in USD index 83.50, bouncing while these lines are written back above the 101 mark, at 101.13 last.

Immediate resistance to the upside for USD/JPY shows at recent session highs 101.25, followed by Monday's highs at 100.33, and Tuesday's NY session lows at 101.84. To the downside, closest support lies at Thursday's lows 100.81, followed by yesterday's/Monday's previous weekly lows at 100.73, and recent session and fresh 3-week lows at 100.57.

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