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Mizuho: USD/JPY to retest 102.40

USD/JPY will likely trade slightly above the 102.00 mark following the last week’s dip on geopolitical risks, strategists at Mizuho Securities forecast.

Despite the USD/JPY drop on US Iran airstrikes approval, it recovered back above 102.00 as Ukrainian tensions eased a little. The BOJ Governor Kuroda supported the pair further by saying that there are no reasons for JPY strength. According to Mizuho analysts, the pair could retest the 102.40 resistance as long as the 101.90 support holds. 

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