12 May 2014
USD/JPY unable to break above 102.00
FXStreet (Córdoba) - The USD/JPY pulled back slightly and is trading little changed on the day after failing once again to break decisively above the 102.00 mark.
The USD/JPY reached a daily high of 102.04 after data showing Japan's current account surplus for the year ended in March was the smallest on record, but the dollar failed to sustain gains a receded somewhat before finding support at the 101.85 zone. At time of writing, the USD/JPY is trading at the 101.90 zone, just a few pips above its opening price.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 102.04 (May 12 high), 102.18 (May 6 high) and 102.36 (50-day SMA). On the flip side, supports are now seen at 101.77 (May 12 low), 101.42 (May 7 low) and 101.32 (Apr 11 low).
The USD/JPY reached a daily high of 102.04 after data showing Japan's current account surplus for the year ended in March was the smallest on record, but the dollar failed to sustain gains a receded somewhat before finding support at the 101.85 zone. At time of writing, the USD/JPY is trading at the 101.90 zone, just a few pips above its opening price.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 102.04 (May 12 high), 102.18 (May 6 high) and 102.36 (50-day SMA). On the flip side, supports are now seen at 101.77 (May 12 low), 101.42 (May 7 low) and 101.32 (Apr 11 low).