USD/JPY quiet and range bound 101.78 / 102.46

By FXstreet.com | July 06, 2014 AAA

FXStreet (Guatemala) - USD/JPY is currently trading at 102.12 on the open with the Nikkei down 0.02%.



It is a quiet start to the week without anything significant on the agenda for the pair today. The week ahead see’s just the FOMC minutes and trickle feed of second tier’s from Japan. Until then, it is worth noting that the pair is looking range bound between the 200 DMA and Ichimoku cloud base on 101.75/80 and cloud top 102.46.



USD/JPY Levels



With spot trading at 102.11, we can see next resistance ahead at 102.15 (Daily High), 102.18 (Daily 100 SMA), 102.19 (Weekly High), 102.25 (Daily Classic R1) and 102.27 (Yesterday's High) ahead of 102.46 cloud top. Support below can be found at 102.11 (Daily Classic PP), 102.09 (Daily Open), 102.08 (Hourly 20 EMA), 102.05 (Daily Low) and 101.97 (Yesterday's Low) before 200DMA at 101.78.



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