USD/JPY suffering under the 102 handle

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Currently, USD/JPY is trading at 101.93, up 0.01% on the day, having posted a daily high at 102.02 and low at 101.74.



JPY is performing well although remains within the tight six‐session range of 101.61 to 102.36. The pair is undermined currently by the weakness of the US dollar, which weakened following yesterday’s FOMC and remains beneath the 102.00-level. The greenback has been undermined by the pullback in US yields reflecting the more dovish than expected assessment of the FOMC meeting, as explained by Lee Hardman, analyst at the Bank of Tokyo-Mitsubishi UFJ, Ltd.



USD/JPY Levels



Spot is presently trading at 101.93, and next resistance can be seen at 101.99 (Hourly 100 SMA), 102.02 (Daily High), 102.06 (Daily Classic PP), 102.07 (Daily 20 SMA) and 102.08 (Hourly 200 SMA). Next support to the downside can be found at 101.92 (Daily Open), 101.89 (Hourly 20 EMA), 101.88 (Yesterday's Low), 101.74 (Daily Classic S1) and (Daily Low).



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