USD/JPY capped by 200 DMA still

By FXstreet.com | Updated July 27, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.78, down -0.05% on the day, having posted a daily high at 101.85 and low at 101.75.



USD/JPY is a slow start to the week, below the 200 DMA still, with the Nikkei down, no events on the calendar and if going by what we have been playing with in recent ranges, then we can presume the next couple of days at least will remain at a slow pace. Looking to a daily chart, we see that RSI is neutral at 53.69 but four hour indicators give us overbought signals. The 200 SMA is currently at 101.71, up from 101.53 at the last period close, and climbing on the hourly USD/JPY chart.



USD/JPY Levels



Current price is 101.79, with resistance ahead at 101.80 (Hourly 20 EMA) and 101.85 (Daily High). Next support to the downside can be found at 101.75 (Low), 101.66 (Weekly Classic PP) and 101.63 (Daily 20 SMA).



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