USD/JPY upside limited below if 102/30/40

By FXstreet.com | August 11, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.19, down -0.01% on the day, having posted a daily high at 102.21 and low at 102.15.



USD/JPY is stuck in a range and the market is waking up to that after a number of weeks calling for break outs one way or another.
Valeria Bednarik, chief analyst at FXStreet, explains as a new day starts, the hourly chart shows price struggling around a bearish 100 SMA while indicators stand flat in neutral territory. “In the 4 hours chart price has managed to hold above its moving averages, but indicators maintain also a neutral stance. Sellers stand in the 102.30/40 area, and unless a clear break above it, the upside will remain limited”.



USD/JPY Support / Resistance Levels



Support levels: 101.95 101.60 101.20



Resistance levels: 102.35 102.80 103.10



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY crashes below 106.50, more downside in store
    Forex News

    USD/JPY crashes below 106.50, more downside in store

  2. Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude
    Forex News

    Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude

  3. EUR/USD bulls wake up and drive pair above 1.2800
    Forex News

    EUR/USD bulls wake up and drive pair above 1.2800

  4. Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?
    Forex News

    Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?

  5. AUD/USD Range Endures With Clearer Cues From Candlesticks Desired
    Forex News

    AUD/USD Range Endures With Clearer Cues From Candlesticks Desired

Trading Center