USD/JPY flat at the open and lacking drivers

By FXstreet.com | August 07, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.09, up 0.00% on the day, having posted a daily high at 102.16 and low at 102.03.



USD/JPY is flat on the open with the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 49.04, up from 42.67 at the last hour close, while ADX is ranging at 16.14, up from 12.68 previous. Meanwhile, daily RSI is in neutral territory at 51.73. We are not expecting anything new from the BoJ and we will likely hear that they are still optimistic that they will reach its 2% inflation target.



USD/JPY Levels



Spot is presently trading at 102.09, 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 102.10 (Daily Open), 102.08 (Low), 101.90 (Daily Classic S3) and 101.60.



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