USD/JPY gaining bearish momentum

By FXstreet.com | Updated August 28, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 103.72 having posted a daily high at 103.76 and low at 103.70.



The USD/JPY dropped to the lows on the risk aversion in markets on the latest Ukrainian developments. Valeria Bednarik, chief analyst at FXStreet, explained that in the 4 hours chart indicators gain bearish momentum, and continue to support further declines, eyeing a quick run towards 103.20 intraday support if mentioned daily low gives up.



USD/JPY support and resistance



Support levels: 103.55 103.20 102.85



Resistance levels: 104.20 104.50 104.80



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