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USD/JPY back below 101.00

FXstreet.com (Córdoba) - The US dollar resumed weakness and fell back below the 101.00 level against the yen during the American session, weighed by diminishing prospects of Fed tapering its QE program in the wake of soft US data.

After peaking at the 101.80 zone, USD/JPY came under pressure and having lost nearly 100 pips in recent dealings, it recently printed a session low of 100.78. At time of writing, USD/JPY is trading at the 100.90 area, now down 0.2% on the day.

As for technical levels, immediate supports are seen at supports are seen at the 100.65 zone (May 24 low) and 100.45 (daily low). On the upside, immediate resistances could be faced at 101.80 (daily high) and 102.00 (psychological level).

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