USD/JPY lacks momentum with risks below 101.60

By FXstreet.com | July 28, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.84, down 0.00% on the day, having posted a daily high at 101.89 and low at 101.82.



With the Nikkei up 0.23% the USD/JPY is working slowly with the analysts at TD Securities noting that the pair is pushing towards 102, “But there is little momentum here to speak of – more range trading looks likely for now”. Valeria Bednarik, chief analyst at FXStreet explained that risk to the downside will likely increase on a break below 101.60, but bulls may take their chances on an advance beyond the 102.00 mark.



USD/JPY Levels



Spot is presently trading at 101.85, 101.94 (Daily Classic R1), 102.35 and 102.80. Support below can be found at (Hourly 20 EMA), 101.75 (Yesterday's Low), 101.60, 101.20 and 101.05.



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