USD/JPY holding on 101.50

By FXstreet.com | July 23, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.54, up 0.05% on the day, having posted a daily high at 101.57 and low at 101.47.



USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish, all the while we are still unchanged with the Tokyo open and trade data already posted. However, in the 4 hours chart, as noted by Valeria Bednarik, chief analyst at FXStreet explained, “Indicators head higher in positive territory, yet chances of an advance are subdue to a break above mentioned resistance”.



USD/JPY Levels



Spot is presently trading at 101.54, and next resistance can be seen at 101.56 (Yesterday's High), 101.60 (Daily 20 SMA) and 101.67 (Weekly High). Next support to the downside can be found at 101.47 (Daily Low) and 101.40 ahead of 101.20.



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