USD/JPY holds above the 102.00 level - FXStreet

By FXstreet.com | 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."



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD recovering from Asian lows
    Forex News

    GBP/USD recovering from Asian lows

  2. USD/JPY mellow on the back of USD sell-off
    Forex News

    USD/JPY mellow on the back of USD sell-off

  3. Dollar Cheered in Press, But Data and Fed Chatter Turning
    Forex News

    Dollar Cheered in Press, But Data and Fed Chatter Turning

  4. EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation
    Forex News

    EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation

  5. US Dollar Technical Analysis: Is a Pullback in the Cards?
    Forex News

    US Dollar Technical Analysis: Is a Pullback in the Cards?

Trading Center