USD/JPY challenges strong support area

By FXstreet.com | Updated August 05, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.54, down -0.05% on the day, having posted a daily high at 102.66 and low at 102.54.



Nikkei opened down 0.39% and the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. On the hourly USD/JPY chart, the 200 SMA is climbing and currently at 102.61, up from the previous hour close at 102.33. The pair is consolidating the lower move on the minute candles and basing in the 102.50’s currently, ahead of strong daily support. At the time of writing, RSI is neutral at 38.79, down from 45.14 at the last hour close while daily RSI is in neutral territory at 63.10.



USD/JPY Levels



Current price is 102.54, with resistance ahead at 102.72 (Hourly 100 SMA), 102.80, 103.10 and 103.40. Next support to the downside can be found at 102.35, 101.95 and 101.60.



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