USD/JPY finally breaks the 102 support

By FXstreet.com | August 07, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.83, down -0.26% on the day, having posted a daily high at 102.16 and low at 101.82.



USD/JPY has been punished through the supporting 102 handle and that is significant, in the usual risk off fashion as Obama has reportedly authorized targeted airstrikes to protect American personnel in Iraq as reported by Reuters.



USD/JPY Levels



Spot is presently trading at 102.83, and next resistance can be seen at 102.22 (Daily 200 SMA), 102.31 (Hourly 20 EMA), 102.80, 103.10 and 103.40. Next support to the downside can be found at 101.90 (Daily Classic S3) and 101.60.



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