USD/JPY cruising along sideways

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.70, up 0.06% on the day, having posted a daily high at 101.76 and low at 101.64.



With Nikkei opening down, 0.17%, the USD/JPY is a slow play, grinding sideways within a narrow range. Valeria Bednarik, chief analyst at FXStreet explained that further gains are possible if 101.60 holds, yet a break below it exposes the pair to a slide towards 101.20 price zone”. Meanwhile, looking to a daily chart, we see that RSI is neutral at 48.25.



USD/JPY Levels



Spot is presently trading at 101.74, and next resistance can be seen at 101.76 (Yesterday's High), (Daily High), 101.82 (Daily Classic R1), 101.92 (Daily 200 SMA) and 101.95 (Daily Classic R2). Support below can be found at 101.72 (Daily 20 SMA), 101.68 (Weekly High), (Daily Open), 101.68 (Hourly 200 SMA) and 101.64 (Daily Low).



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