USD/JPY holds support at 102.20

By FXstreet.com | Updated June 10, 2014 AAA

FXStreet (Córdoba) - The USD/JPY bounced off lows and reached fresh session highs following the release of better-than-expected US wholesale inventories.



The USD/JPY found support once again at the 102.20 area, which has already contained the downside during the European morning, and turned north, climbing to a session high of 102.41. At time of writing, the pair is trading at the 102.35 area, still 0.17% below its opening price.



USD/JPY technical outlook



Valeria Bednarik, chief analyst at FXStreet notes that the USD/JPY holds a slightly negative tone. “Below 102.05, the pair can extend its slide down to 101.70, while below this latter, bears will take full control”.



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