USD/JPY drooping to the downside below 102 handle

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Currently, USD/JPY is trading at 101.91, down -0.04% on the day, having posted a daily high at 101.99 and low at 101.91.



USD/JPY is looking a little heavy here below the 102 handle on the open in Tokyo pushing on 101.90 support while the Nikkei has opened down 0.01%. Meanwhile, and although, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. At current levels, as Valeria Bednarik, chief analyst at FXStreet noted, the pair has little to offer, with a break either above 102.35 or below 101.65 required to set a more directional move.



USD/JPY Levels



With spot trading at 101.92, we can see next resistance ahead at 101.94 (Daily Open), 101.98 (Hourly 100 SMA), 101.99 (Daily High), 102.02 (Yesterday's High) and 102.06 (Daily Classic PP). Support below can be found at 101.92 (Hourly 20 EMA), 101.91 (Daily Low), 101.74 (Daily Classic S1), 101.74 (Yesterday's Low) and 101.70 (Weekly Low).



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