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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY entered in a consolidation phase ahead of the New York session having recovered from lows around 99.60.

USD/JPY bounces from 21-day SMA

USD/JPY dipped to a daily low of 99.60 after Abe's victory in elections for parliament's upper house in Japan. However, the pair found support at the 21-day SMA and bounced back to the 100.15 area before losing momentum and settling around 99.90/100.00.

USD/JPY technical levels

At time of writing, USD/JPY is trading around 99.95, 0.2% below its opening price. In terms of technical levels, immediate supports could be found at 99.60 (daily low/21-day SMA) and 99.05 (Jul 17 low). On the upside, resistances are seen at 100.10 (20-hour SMA) and 100.60 (daily high).
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