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”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Treasury yields pull up USD/JPY pair

  2. Forex News

    USD/JPY may retest 117.18 levels – FXStreet

  3. Forex News

    USD/JPY bounces off 117.60

  4. Forex News

    USD/JPY might break above its 5 day range – DayTradeIdeas

  5. Forex News

    USD/JPY hovers around 118

Trading Center