USD/JPY needs to break 200DMA at 101.60

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.65, down -0.08% on the day, having posted a daily high at 101.74 and low at 101.65.



With a large number of data from Japan released the pair remains in a tight spot although pressure does appear to be mounting to the downside again. Looking to momentum indicators, the hourly 200 SMA is currently at 101.80, down from the last close at 101.94 and declining but the 200 DMA is still providing strong support at 101.60. Daily RSI sits at 46.23, in neutral territory



USD/JPY Levels



Current price is 101.65, with resistance ahead at 101.66 (Daily Classic S1), 101.68 (Daily 200 SMA), 101.70 (Monthly Low), 101.71 (Hourly 20 EMA) and 101.73 (Weekly Classic S1). Next support to the downside can be found at 101.65 (Daily Low), 101.60 (200 DMA) 101.49 (Yesterday's Low), 101.45 (Daily Classic S2), 101.39 (Weekly Classic S2) and 101.28 (Daily Classic S3).



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