USD/JPY trading in tight range without events

By FXstreet.com | August 04, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.58 having posted a daily high at 102.61 and low at 102.50.



With the Nikkei open up 0.21% and with large options expiries in European markets in the Yen, the pair is trading in a tight range in the absence of any economic data. Spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 58.19, up from its last hourly close. Looking to a daily chart, we see that RSI is neutral at 64.38.The 200 SMA is currently at 102.69, up from 102.19 at the last period close, and climbing on the hourly USD/JPY chart.



USD/JPY Levels



Spot is presently trading at 102.58 (Hourly 100 SMA) and next resistance is 102.60 and 102.67 (Daily Classic PP). Support below can be found at 102.41 (Daily Low), 102.34, 102.29 (Daily Classic S1), 102.18 (Daily 200 SMA) and 102.15 (Hourly 200 SMA).



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