USD/JPY holds above the 102.00 level - FXStreet

By FXstreet.com | Updated August 11, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that USD/JPY is trading above the 102.00 level on Monday, although without a considerable boost from the recovery in Nikkei.



Key quotes



"Technically, the hourly chart shows price holding price below a still bearish 100 SMA with 200 one above it, and indicators turning lower around their midlines."



"In the 4 hours chart indicators retrace from their midlines, suggesting latest recovery from 101.50 has been corrective."



"Nevertheless, a downward acceleration below 101.95 is required to confirm a bearish move, while the upside remains limited by 102.30/40 static resistance zone."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Forecast: Will Dollar and Equity Declines Evolve into Reversals?

  2. Forex News

    USD/JPY Eyes March Low - Japan to Post First Trade Surplus Since 2012

  3. Forex News

    Video: Risk Reversal a Greater Danger Than Dollar Tumble Next Week

  4. Forex News

    USD/JPY: Closed between key levels, sub 119 handle

  5. Forex News

    USD/JPY back on to 119 handle; where next?

Trading Center