USD/JPY enjoys a quiet phase

By FXstreet.com | Updated July 30, 2014 AAA

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

Related Forex Analysis
  1. US data will dictate the mood for USD/JPY – OCBC
    Forex News

    US data will dictate the mood for USD/JPY – OCBC

  2. Stay with the trend – TD Securities
    Forex News

    Stay with the trend – TD Securities

  3. USD/JPY Technical Analysis: Bearish Reversal in the Works?
    Forex News

    USD/JPY Technical Analysis: Bearish Reversal in the Works?

  4. Bearish outlook unchanged for Yen – JP Morgan
    Forex News

    Bearish outlook unchanged for Yen – JP Morgan

  5. USD/JPY to continue to trade in a range – AceTrader
    Forex News

    USD/JPY to continue to trade in a range – AceTrader

Trading Center