USD/JPY falls to test 102.25, August low

By FXstreet.com | Updated 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.



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