USD/JPY breaks above 102.70

By FXstreet.com | August 05, 2014 AAA

FXStreet (San Francisco) - The USD/JPY broke above the 102.70 after several attempts in the latest few hours and now it is pricing at daily highs around 102.75.



Currently, USD/JPY is trading at 102.76, up 0.18% on the day, having posted a daily high at 102.78 and low at 102.46. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.



USD/JPY sentiment



"Sellers are still keen to step up between 102.70-80 with stops through 103.20 topside. Longs may take heart from the higher lows after the flush to 102.33," comments Matt Bacon-Hall from FXBeat. "The 103.08 level I highlighted last week was significant, and so far nothing has changed."



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