USD/JPY extends gains to 102.90 after a brief rejection

By FXstreet.com | August 05, 2014 AAA

FXStreet (San Francisco) - After breaking 102.70 level and testing daily highs at 102.75, the USD/JPY found selling interest that sent the pair to 102.65; however the pair recovered the mood and now it is extending gains to 102.90.



Currently, USD/JPY is trading at 102.87, up 0.29% on the day, having posted a daily high at 102.94 and low at 102.46. USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.



USD/JPY levels



The pair is now focused into 103.00, that works as next resistance ahead of 103.10 and 103.40. On the downside, 102.70, 102.60 and 102.40 are supports.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center