USD/JPY unchanged on the Tokyo open

By FXstreet.com | July 24, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.77, down -0.03% on the day, having posted a daily high at 101.85 and low at 101.74.



Nikkei is up 0.33% while USD/JPY remains unchanged on CPI’s virtually inline as follows: Ex food and energy at 2.3% and up vs 2.2% previous. Ex food and energy up 2.1% from 2.0% previous and Tokyo CPI down 2.8% from 3.0% previous. Val Bednarik, Chief analyst at FXStreet explained that in the 4 hours chart, indicators are slightly exhausted to the upside but still in positive territory. “Some follow through above 101.95, may see the pair extending the upside up to 102.80 next strong midterm resistance”.



USD/JPY Levels



Current price is 101.77. Next support to the downside can be found at 101.70 (Hourly 20 EMA), 101.70 (Daily Classic R2) and 101.59 (Daily Classic R1), 101.20/05. Resistance comes 101.95, 102.35 and 102.80.



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