Forex: USD/JPY dips below 99 on Aso's comments

FXstreet.com (Barcelona) - Following first trading day of the week today for Japanese markets as yesterday were closed on holidays, USD/JPY is last plunging below the 99 handle at fresh session lows 98.83 from above 99.40 weekly highs, on the back of Japan Fin Min Aso saying “It will take a few months for the BOJ easing to take effect,” ForexLive editor Eamonn Sheridan reported.

Nikkei index opened above the 14000 points for the first time today since late June 2008, with the weekly RSI at an 8-year high above the 82 level. The index is up +2.73% for the day since it closed past Thursday, while mostly all other local share markets are in the red. Also has been reported earlier in the session that North Korea has moved missiles away from launch sites, media said.

Immediate support to the downside for USD/JPY lies at recent session lows 98.80, followed by April 23 lows/Thursday's highs at 98.46/0, and Friday's lows at 97.93. To the upside, closest resistance shows at Monday's/April 25 lows 98.97, followed by Friday's highs at 99.27, and yesterday's weekly highs at 99.45.