USD/JPY heavy on critical support zone

By FXstreet.com | July 20, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.30, down -0.06% on the day, having posted a daily high at 101.40 and low at 101.29.



USD/JPY is slow with Tokyo out on holiday for Marine day and bulls will be nervous in a favorable environment for the JPY in the current risk off environment. We had a pop on the downside last week that tested the nerves of the less committed bulls around the critical 101 handle. All the while, its starting to look heavy here and we will turn to the CPI data from the US for a foundation to plan ahead from for this week.



USD/JPY Levels



With spot trading at 101.30, we can see next resistance ahead at 101.36 (Hourly 20 EMA), 101.40 (Daily High) and support below can be found at this critical long term handle.



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