FXStreet (Córdoba) - The USD/JPY managed to stabilize after yesterday's sharp sell-off sent the pair to fresh 7-week lows in a spike of risk aversion.



The USD/JPY bottomed out at 101.05 and bounced to settle inside a slim range just above 101.20. Having spent the last sessions within the mentioned range, the pair is currently trading at 101.28, virtually unchanged on the day.

USD/JPY technical perspective



"The downtrend from 102.25 is intact and current rebound above 101.05 low should be limited below 101.43 resistance before next leg downwards, to 100.70", said Stoyan Mihaylov, analyst at DeltaStock. "Crucial on the upside is 101.85 high".



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY Flirts With Broader Breakdown

  2. Forex News

    USD/JPY bounce off 122.00 again

  3. Forex News

    US Dollar May Break to Further Lows if it Fails at Key Support

  4. Forex News

    USD/JPY likely to transition higher – BAML

  5. Forex News

    USD/JPY points to 125-130 in h1 2016 – BAML

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!