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

By FXstreet.com | Updated 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



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: FOMC, GDP, Greece and Much More Ahead

  2. Forex News

    Japanese Yen to Look Past BOJ Decision, Focus on Greece and FOMC

  3. Forex News

    Trading Video: Sentiment, Dollar and Euro All At-Risk Next Week

  4. Forex News

    Strategy Video: Can We Still Trade Amid Central Banks, HFT, Exuberance

  5. Forex News

    USD/JPY: Bears in charge ahead of BoJ next week

Trading Center