USD/JPY remains sub 102 on risk aversion

By FXstreet.com | August 08, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.86, down -0.23% on the day, having posted a daily high at 102.16 and low at 101.51.



USD/JPY remains on the offer, below the 102 handle on risk aversion following recent geopolitical events. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank also explained that, as widely expected, the BoJ left policy unchanged, with its annual pace of monetary base expansion steady at ¥60 to ¥70trn; and accordingly there was limited market reaction."USD/JPY short‐term technicals: mixed—USD/JPY is range bound, trading comfortably between 101 and 103 and mixed technical signals reflect this."



USD/JPY Levels



Spot is presently trading at 101.86, and next resistance can be seen at 102.00, 102.22 (Daily 200 SMA), 102.31 (Hourly 20 EMA), 102.80, 103.10 and 103.40. Next support to the downside can be found at 102.10 (Daily Open), 102.08 (Low), 101.90 (Daily Classic S3) and 101.60.



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