FXStreet (Guatemala) - USD/JPY is trading at 103.92, up 0.06% on the day, having posted a daily high at 103.93 and low at 103.82.



USD/JPY has been pushing towards the 104 handle but has run out of steam here. In the meantime, as Dukascopy Bank Team at Dukascopy Bank SA explains, the recently breached resistance at 103 should now act as a floor for the near-term dips. ”There has been a major drop in the percentage of long positions held on USD/JPY since yesterday’s update—it has plunged from 75 down to 59%. But at the same time there are less sell orders—their portion declined from 63 to 58%”.



USD/JPY hourly levels



With spot trading at 103.85, we can see next resistance ahead at 103.97 (Yesterday's High), 104.13 (Daily Classic R1) and 104.49 (Daily Classic R2). Support below can be found at 103.82 (Daily Low), 103.78 (Hourly 20 EMA), 103.76 (Monthly High) and 103.60 (Yesterday's Low).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY teasing on psychological 121 handle ahead of BoJ

  2. Forex News

    Bank of Japan: Odds for additional action quite low - RBS

  3. Forex News

    BoJ preview: Focus on QQE implications - Deutsche Bank

  4. Forex News

    USD/JPY close below 121.00; first negative day in five

  5. Forex News

    USD/JPY Confluence Could Provide Support Near 120

Trading Center