USD/JPY consolidated sub 102 handle in opening hour

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.88, down -0.04% on the day, having posted a daily high at 101.96 and low at 101.86.



The Nikkei opened up 0.16% while the USD/JPY has been pressured overnight to the downside and is starting to consolidate on 101.90 awaiting the next move from either direction. Fundamentally, the FOMC was overall a bearish mark in the sand for the greenback and it may take something particular to reverse the damage done in the US session. Meanwhile, the hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.



USD/JPY Levels



With spot trading at 101.88, we can see next resistance ahead at 101.92 (Daily Open), 101.96 (Daily High), 101.98 (Hourly 100 SMA), 102.07 (Hourly 20 EMA) and (Daily Classic PP). Support below can be found at 101.88 (Yesterday's Low), 101.87 (Daily Classic S1), 101.86 (Daily Low), 101.70 (Weekly Low) and 101.61 (Daily Classic S2).



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