USD/JPY trims losses around 102.70

Swelling sentiment around the risk-associated assets is now lifting USD/JPY to the area of 102.70 after dropping to the 102.20 region.

USD/JPY focus on US data

The pair has found some support in the low-102.00s in early trade, managing to regain some steam following improved sentiment around the riskier assets.

Earlier in the session, LDP member M.Shibayama advocated for FX intervention in case of undesirable appreciation of the Japanese safe haven.

In the US docket, Pending Home Sales, Personal Income/Spending and inflation tracked by the PCE are all due later, while attention will also remain on the developments from the key EU Leaders Summit.

USD/JPY levels to consider

As of writing the pair is retreating 0.10% at 102.67 facing the immediate support at 99.08 (2016 low Jun.24) ahead of 96.55 (monthly low Oct. 8 2013) and then 95.70 (monthly low Aug.8 2013). On the flip side, a break above 105.35 (20-day sma) would aim for 106.85 (high Jun.24) and finally 107.82 (55-day sma).