USD/JPY under pressure near 101.00

The persistent selling bias around the greenback continues to weigh on USD/JPY, now dragging it to fresh lows in the 101.00 neighbourhood.

USD/JPY weaker, challenges 101.00

The pair is losing ground for the second session in a row today as the sell off in the US dollar seems far from abated, opening the door for a test of last week’s troughs in the 100.60/80 band.

On the Japanese data front, the Tertiary Industry Activity index rose above estimates 0.8%, reverting the previous 1.2% drop. In the US, JOLTs Job Openings is due next ahead of the EIA’s weekly report on crude oil inventories and the Federal Budget Balance for the month of July.

USD/JPY levels to consider

As of writing the pair is retreating 0.82% at 101.04 facing the immediate support at 100.65 (low Aug.2) ahead of 100.02 (low Jul.8) and then 99.08 (low Jun.24). On the other hand, a surpass of 102.83 (high Aug.2) would open the door to 103.28 (50% Fibo of 99.08-107.48) and finally 103.86 (20-day sma).