USD/JPY sticking to the range, support at 102 handle

By FXstreet.com | Updated August 18, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.57, up 0.22% on the day, having posted a daily high at 102.61 and low at 102.25.



USD/JPY sticks to a long term range and Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that "JPY is soft but still trading within its range. There were no data releases and news flow was light leading to a flat Nikkei, stable yields and a quiet session for USD/JPY. Technicals are mixed, reflecting the range bound environment that has characterized USD/JPY for months. Expect the 102.00 neighbourhood to support for now."



USD/JPY hourly levels



Spot is presently trading at 102.58, and next resistance can be seen at 102.61 (Daily High), 102.68 (Daily Classic R1), 102.72 (Weekly Classic R1), 102.73 (Yesterday's High) and 102.80 (Monthly High). Next support to the downside can be found at 102.47 (Hourly 20 EMA), 102.45 (Weekly High), 102.42 (Hourly 100 SMA), 102.41 (Daily Classic PP) and 102.37 (Daily 200 SMA).



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