USD/JPY pair managed to recover from losses from the last trading session. The cross reached 102.77 during the final hours of the Asian session. Support levels were expected at 102.06, lowest value for the whole session, while the pair was likely to meet resistance at 103.00-03.
On Sunday Japanese Economy Minister, Akira Amari announced that experts suggested yens correction from excessive strength was almost over. He also gave a warning that a possible continuing weakness of Japans national currency could pose a threat to countrys economic subjects. Akira Amari expressed his hopes that yen would find value, corresponding with fundamentals of Japanese economy.
Markets still wait Wednesday’s Federal Reserve minutes and testimony at the U.S. Joint Economic Committee by Ben Bernanke.
Meanwhile, EUR/JPY pair remained at levels around 132.30.
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