USD/JPY extends advance to 2-week high at 102.25

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (San Francisco) - The USD/JPY extended its post-NFP gains from 101.80 area and now it is testing the 102.25 level where the pair found some selling interest.



Currently, USD/JPY is trading at 102.19, up 0.43% on the day, having posted a daily high at 102.30 and low at 101.75. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.



USD/JPY Sentiment



"US 10 year notes are now at a 2.657% yield, up a bit less than 3 bp on the day. Earlier they rose to 2.69%, briefly," points Jamie Coleman from FXStreet. "USD/JPY may struggle to maintain its altitude if yields ease further. We trade now at 102.15 after reaching 102.26 highs earlier this morning."



If the pair manages to break above 102.25, it would face resistance at 102.40 and 102.60. On the downside, supports are at 102.00, 101.75 and 101.60.



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