USD/JPY nearing a four and a half year highs

On Friday session, US dollar advanced against the Japanese yen closing in to a new 4,5 year high. Major influence was the speculation over a possible earlier exit of FEDs stimulus program than expected.

The pair reached 102.58 during European trade, followed by consolidation at 102.48. Support levels were expected at 101.26, May 14th low value, while resistance was expected at 102.58.

FEDs president for San Francisco, John Williams, announced that it is possible FED to scale back its easing program this years summer and exit the asset purchases by the end of the year.

US dollar reduced its value yesterday after a series of disappointing news from US. It was reported that the Philadelphia FED index fell to -5.2 during May, while it was on positive territory a month ago, +1.3.

Additionally, it became clear that Initial Jobless Claims in US increased to 360 000 during last week, from revised 328 000 during the previous period.