USD/JPY looking comfortable, bulls in charge

By FXstreet.com | July 02, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.83, up 0.06% on the day, having posted a daily high at 101.86 and low at 101.75.



USD/JPY is edging higher still, making a fresh high on the past 24hrs with the Nikkei opening up and slightly below Junes highs. The hourly FXStreet OB/OS Index is showing neutral conditions still, alongside the FXStreet Trend Index that is slightly bullish on a constructive looking phase. USD/JPY will be seeking a close here to confirm that the more committed bulls are back in charge.



USD/JPY Levels



With spot trading at 101.84, we can see next resistance ahead at 101.85 (Daily 20 SMA), (Daily High), 101.87 (Weekly High) and 101.96 (Weekly Classic R1). Support below can be found at 101.80 (Daily Classic R2), 101.77 (Daily Open), 101.75 (Daily Low), 101.73 (Daily 200 SMA) and 101.70 (Hourly 200 SMA).



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