USD/JPY back to square one

By FXstreet.com | June 20, 2014 AAA

FXStreet (Córdoba) - The USD/JPY remains unable to set a clear direction and continues to oscillate around 102.00, enjoying only intraday volatility over the last 4 months.



Following a week of “high” volatility after US inflation figures and the Fed decision, the USD/JPY is back to square one just below the 102.00 mark. The USD/JPY moved a tad lower during the Asian session but found support at 101.80 and bounced back to trade little changed on the day and the week at 101.95.



USD/JPY levels to watch



In terms of technical levels, the USD/JPY could find next resistances at 102.05 (50-day SMA), 102.38 (Jun 11 high) and 102.64 (Jun 9 high). On the other hand, supports could be found at 101.73 (Jun 19 low), 101.60 (Jun 12 low) and 101.42 (May 29 low).



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