USD/JPY remains sub 102 on risk aversion

By FXstreet.com | Updated 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.



Related Forex Analysis
  1. Session Recap: When money comes from Japan; EUR/USD at 14-month low, USD/JPY 7-year ...
    Forex News

    Session Recap: When money comes from Japan; EUR/USD at 14-month low, USD/JPY 7-year ...

  2. BoJ QE increase and Fed QE end could impact USD/JPY - J.P. Morgan
    Forex News

    BoJ QE increase and Fed QE end could impact USD/JPY - J.P. Morgan

  3. USD/JPY breaks above 112.00
    Forex News

    USD/JPY breaks above 112.00

  4. BoJ steps up JGB purchases - BNP Paribas
    Forex News

    BoJ steps up JGB purchases - BNP Paribas

  5. BoJ Jumps the Shark as JPY Implodes on Surprise Easing
    Forex News

    BoJ Jumps the Shark as JPY Implodes on Surprise Easing

Trading Center