USD/JPY falls to test 102.25, August low

By FXstreet.com | August 06, 2014 AAA

FXStreet (San Francisco) - The USD/JPY fell to test the lowest level since July 30 at 102.25 where the pair found buying interest, then the pair bottomed there and a bounce drove it higher to 102.40.



Currently, USD/JPY is trading at 102.41, down 0.17% on the day, having posted a daily high at 102.66 and low at 102.24. USD/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.



USD/JPY sentiment



The pair is now testing the 200-hour MA to the upside at 102.40. If the pair breaks above it, it would face resistances at 102.50 and 102.90. On the downside, 102.25, 102.10 and 102.00 are supports.



comments powered by Disqus
Related Forex Analysis
  1. Markets Brace for More Volatility on ECB TLTRO, Scotland Referendum
    Forex News

    Markets Brace for More Volatility on ECB TLTRO, Scotland Referendum

  2. USD/JPY unstoppable; 109.00 within reach
    Forex News

    USD/JPY unstoppable; 109.00 within reach

  3. British Pound: Scottish Vote is Close and FX Traders are Nervous
    Forex News

    British Pound: Scottish Vote is Close and FX Traders are Nervous

  4. EUR/USD on mend, but sky is still clouded
    Forex News

    EUR/USD on mend, but sky is still clouded

  5. Asia Recap: Focus shifted to Scottish vote
    Forex News

    Asia Recap: Focus shifted to Scottish vote

Trading Center