USD/JPY consolidates highs around 101.65

By FXstreet.com | Updated July 30, 2014 AAA

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

    Weekly Trading Forecast: Expect Heavy Seas Between NFPs, ECB and RBA

  2. Forex News

    US Dollar Likely to Reverse versus Japanese Yen in Week Ahead

  3. Forex News

    USD/JPY: Looking constructive for above 120.00 - TDS

  4. Forex News

    USD/JPY to close its seventh positive month since July; +200 pips monthly gain

  5. Forex News

    USD/JPY extends gains to 3-day high

Trading Center