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. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center