FXStreet (Edinburgh) - There is the likeliness that the pair might re-visit lower levels, with 101.55 (200-d MA) being the next relevant support, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

USD/JPY has recently eroded its near term support line and is under pressure in the range, it is not dynamic and we suspect that we will just see a slow grind lower.

“Directly below lies the 200 day ma at 101.55 and this guards the 100.75/77 key support – the 2014 low and 55 week ma”.

“Rallies will find initial resistance at 102.80 ahead of the 2014 resistance line at 103.06”.

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Forex pairs in this Article » USD/JPY

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