JPY review: Western Union

Quotes from Western Union:

- Mostly positive world stocks, a decent amount of risk appetite and the chance the Fed chair could talk about the possibility of raising U.S. interest rates this year weighed on the safer Japanese currency which neared its weakest in two weeks. 

- But to put it in better context the weaker Japanese currency is a few yen away from recent seven-year lows against its U.S. counterpart. Global uncertainty has helped limit falls for the yen while the market perception that levels near ¥120 could be Japan's so-called line in the sand when it comes to tolerating currency weakness. 

- The yen's recent performance suggests the current market offers an excellent buying opportunity for U.S. importers.