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USD/JPY hovering around 114.00

FXStreet (Córdoba) - The Japanese currency is consolidating losses across the board while USD/JPY remains steady barely below 114.00. The pair is headed toward the highest daily close since December 26, 2007.

Greenback is rising for the fifth day in a row against the Yen, after a 640-pip rally. A week ago it was trading around 107.80 and then jumped on the back of a strong US dollar and then, boosted by the decision of the Bank of Japan to increase its monetary stimulus.

USD/JPY levels to watch

To the upside, immediate resistant lies around 114.000 and above here at 114.20 (daily high) followed by 114.50. On the opposite direction, support might be located at 113.65 (American session low) and below here at 112.95 and 112.50/55 (daily low).

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