FXStreet (San Francisco) - After testing nearly 1-week highs at 101.75 and retracing to 101.60, the USD/JPY is now trading in consolidation mode around 101.70.



Currently, USD/JPY is trading at 101.68, up 0.15% on the day, having posted a daily high at 101.76 and low at 101.43. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.



USD/JPY sentiment



According to Valeria Bednarik from FXStreet, "the hourly chart shows indicators heading higher above their midlines, albeit lacking clear momentum at the time being."



She adds that "the 4 hours chart the technical tone is also mild positive, and further gains are possible if 101.60 holds, yet a break below it exposes the pair to a slide towards 101.20 price zone."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY Consolidates around Month Open Price

  2. Forex News

    USD/JPY falls to test 122.00 as stocks decline in US and Europe

  3. Forex News

    US Dollar and Japanese Yen on Target to Hit these Price Levels

  4. Forex News

    USD/JPY off lows after US trade balance

  5. Forex News

    USD/JPY in daily lows near 122.40

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!