USD/JPY under pressure, hits 5-day lows

By FXstreet.com | Updated August 06, 2014 AAA

FXStreet (Córdoba) - The USD/JPY is pressuring the lower side of its recent range, having hit its lowest in 5 days during the European session as the yen benefits for its safe-haven status amid geopolitical concerns.



The USD/JPY fell to a low of 102.36 during the European session as risk aversion dominates the markets today. The pair resumed the downside after repeated failure to consolidate above the 103 mark.

USD/JPY technical levels



At time of writing, the USD/JPY is trading at 102.38, 0.19% below its opening price. As for technical levels, next supports are seen at 102.33 (Aug 1 low), 102.17 (200-day SMA) and 102.07 (100-day SMA). On the other hand, resistances could be found at 102.91 (Aug 5 high), 103.01 (Aug 1 high) and 103.38 (Apr 7 high).



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