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12 Aug 2014
USD/JPY upside limited below if 102/30/40
FXStreet (Guatemala) - USD/JPY is trading at 102.19, down -0.01% on the day, having posted a daily high at 102.21 and low at 102.15.
USD/JPY is stuck in a range and the market is waking up to that after a number of weeks calling for break outs one way or another.
Valeria Bednarik, chief analyst at FXStreet, explains as a new day starts, the hourly chart shows price struggling around a bearish 100 SMA while indicators stand flat in neutral territory. “In the 4 hours chart price has managed to hold above its moving averages, but indicators maintain also a neutral stance. Sellers stand in the 102.30/40 area, and unless a clear break above it, the upside will remain limited”.
USD/JPY Support / Resistance Levels
Support levels: 101.95 101.60 101.20
Resistance levels: 102.35 102.80 103.10
USD/JPY is stuck in a range and the market is waking up to that after a number of weeks calling for break outs one way or another.
Valeria Bednarik, chief analyst at FXStreet, explains as a new day starts, the hourly chart shows price struggling around a bearish 100 SMA while indicators stand flat in neutral territory. “In the 4 hours chart price has managed to hold above its moving averages, but indicators maintain also a neutral stance. Sellers stand in the 102.30/40 area, and unless a clear break above it, the upside will remain limited”.
USD/JPY Support / Resistance Levels
Support levels: 101.95 101.60 101.20
Resistance levels: 102.35 102.80 103.10