USD/JPY steady, 102.60’s, in Tokyo’s opening hour

By FXstreet.com | Updated August 18, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.63, up 0.06% on the day, having posted a daily high at 102.66 and low at 102.55.



USD/JPY is steadily into the 102.60 territory here in the opening hour of Tokyo wit the Nikkei opening up 0.84%. Valeria Bednarik, chief analyst at FXStreet said however that the advance remains shy of 102.80 resistance area, where the pair has several daily highs from the past few weeks, and a daily descendant trend line coming from this year high of 105.43 which reinforces the strength of the level. “The hourly chart shows indicators losing upward strength in positive territory, but price above its moving averages, maintaining a positive tone. In the 4 hours chart, indicators aim higher around their midlines while price held above moving averages, supporting the shorter term view”.



USD/JPY support and resistance levels



Support levels: 102.35 101.95 101.60



Resistance levels: 102.80 103.10 103.45



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