FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that although the USD/JPY posted a daily high of 102.92, yet again the advance above 102.80 was short lived.



Key Quotes:



“Stocks slide along with selling interest pushed price back lower. As a new day starts the hourly chart shows price midway between 100 and 200 SMAs, while indicators turned lower and stand right around their midlines”.



“In the 4 hours indicators accelerate south below their midlines, increasing the risk of a downward continuation: the pair has stalled several times between 102.30/40 so a break below the level is required to confirm a new leg lower, eyeing then 101.60 next strong static support zone”.



“Support levels: 102.35 101.95 101.60”.



“Resistance levels: 102.80 103.10 103.40”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY: fade the upticks – OCBC

  2. Forex News

    Kiwi staged a solid-comeback in Asia, BOE FSR & Manufacturing PMIs – Next up

  3. Forex News

    USD/JPY off highs, side-lined around 122.50

  4. Forex News

    USD/JPY Technical Analysis: Support Above 122.00 Holds Up

  5. Forex News

    USD/JPY bid in Tokyo despite bullish Tankan

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!