USD/JPY not showing signs of real strength

By FXstreet.com | Updated August 13, 2014 AAA

FXStreet (Guatemala) - Currently, USD/JPY is trading at 102.44, up 0.02% on the day, having posted a daily high at 102.46 and low at 102.41.



On the back of the poor GDP numbers from yesterday the USD/JPY is walking at a slow pace with the bulls and Valeria Bednarik, chief analyst at FXstreet explained that the daily high of 102.54 was seen in the US session and had been slightly firmer on the day, but still not showing any real actual strength at the time being. “The hourly chart shows price standing above 100 and 200 SMAs with this last now offering dynamic support around 102.30; indicators in the same time frame had lost their upward tone but hold above their midlines, while the 4 hours chart presents a positive tone coming from technical readings, that supports a test of 102.80 immediate resistance”.



USD/JPY support and resistance levels



Support levels: 102.30 101.95 101.60



Resistance levels: 102.80 103.10 103.45



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