USD/JPY remains flat into closing hours

By FXstreet.com | July 11, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.33, down -0.01% on the day, having posted a daily high at 101.40 and low at 101.21.

USD/JPY is flat and has been for the past 24hrs. The markets have bought into the JPY to some degree on the back of risk aversion requirements in the concerns over Portugal’s banks. Bedsides that, we have the BoJ next week, but for instance, analysts at Bank of American Merrill Lynch explained that they expect, as many others do also, that the Bank of Japan Monetary Policy Board will vote to keep its monetary base expansion target and the quantitative and qualitative monetary easing framework through asset purchases at its meeting on 14-15 July. Looking to a daily chart, we see that RSI is neutral at 40.44.

USD/JPY Levels

Spot is presently trading at 101.33, and next resistance can be seen at 101.34 (Weekly Low), 101.34 (Daily Open), 101.36 (Daily Classic PP), 101.40 (Daily High) and 101.45 (Weekly Classic S1). Next support to the downside can be found at 101.33 (Monthly Low), 101.32 (Hourly 20 EMA), 101.21 (Daily Low), 101.07 (Yesterday's Low) and 101.04 (Daily Classic S1).

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