USD/JPY falling short of 102 handle, now consolidating

By FXstreet.com | July 09, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.52, down -0.11% on the day, having posted a daily high at 101.68 and low at 101.51.

USD/JPY is pressing on the mid point of the 101 handle to the downside and dropping short of the 102 resistance overnight. In the open here, the pair is consolidated and unchanged. Analyst’s at TD Securities, in respect of the FOMC’s minutes explained , in reading these minutes, “One should keep in mind that the strong set of employment data for the month of June had not been released yet at the time of the June FOMC meeting. Therefore, pondering future intentions of the members of the committee becomes a trickier challenge, as everything should be weighed relative to the strength of June’s payrolls. This will perhaps predispose the markets to discount the ongoing dovishness that should transpire from these minutes”.

USD/JPY Levels

With spot trading at 101.53, we can see next resistance ahead at 101.58 (Weekly Low), 101.64 (Daily Open), 101.65 (Hourly 20 EMA), (Daily Classic PP) and 101.68 (Daily High). Support below can be found at 101.51 (Daily Low), 101.45 (Weekly Classic S1), 101.45 (Yesterday's Low), 101.43 (Daily Classic S1) and 101.33 (Monthly Low).

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