FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that USD/JPY has traded uneventfully below 101.90.
“Hourly chart now showing a mild positive tone, as per price developing above moving averages and indicators standing in positive territory”.
“In the 4 hours chart indicators stand in positive territory but turning lower, while moving averages maintain a bearish slope albeit below current price”.
“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”.
“Support levels: 101.60 101.20 101.05”.
“Resistance levels: 101.95 102.35 102.80”.