USD/JPY: 102 the new look?

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.08, down -0.11% on the day, having posted a daily high at 102.27 and low at 101.97.



USD/JPY is holding onto the 102 handle and may be a play on the bid given the follow through which might be seen if 102 can indeed be sustained for a few closes into the week ahead. However, the jobs number alone probably will not be able to trigger a sustained dollar rally without there being evidence that this is going to translating into real jobs and faster wage growth. Meanwhile, daily RSI is in neutral territory at 55.36.



USD/JPY Levels



With spot trading at 102.08, we can see next resistance ahead at 102.18 (Daily 100 SMA), 102.19 (Weekly High), (Daily Open), 102.27 (Daily High) and 102.30 (Yesterday's High). Support below can be found at 102.08 (Daily Classic PP), 102.07 (Hourly 20 EMA), 101.97 (Daily Low), 101.96 (Weekly Classic R1) and 101.88 (Daily 20 SMA).



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