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

Related Forex Analysis
  1. Forex News

    Japanese Yen Downtrend Remains Intact

  2. Forex News

    USD/JPY breaks above 119.00 – FXStreet

  3. Forex News

    USD/JPY climbs above 119.00 after jobless claims

  4. Forex News

    Dollar Rally Post-FOMC Bolstered by Surprise SNB Action

  5. Forex News

    FOMC plays a neat hand – SG

Trading Center