17 Jun 2014
USD/JPY fails to hold above 102.00
FXStreet (Córdoba) - The USD/JPY failed to hold above the 102.00 mark and pulled back at the beginning of the European session as investors cautiously await Fed's meeting Wednesday.
Concerns about escalating violence in Iraq have depressed risk sentiment, underpinning the dollar and the yen, and keeping the USD/JPY in a narrow range Tuesday. The pair hit a daily high of 102.06 but then surrendered some gains, sliding back to the 101.90 zone. At time of writing, the USD/JPY is trading around 101.95, still up 0.13% on the day.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find next supports at 101.80 (psychological level), 101.60 (Jun 12 low) and 101.54 (200-day SMA). On the other hand, resistances are seen at 102.13 (Jun 12 & 13 highs), 102.20 (10-day SMA) and 102.38 (Jun 11 high).
Concerns about escalating violence in Iraq have depressed risk sentiment, underpinning the dollar and the yen, and keeping the USD/JPY in a narrow range Tuesday. The pair hit a daily high of 102.06 but then surrendered some gains, sliding back to the 101.90 zone. At time of writing, the USD/JPY is trading around 101.95, still up 0.13% on the day.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find next supports at 101.80 (psychological level), 101.60 (Jun 12 low) and 101.54 (200-day SMA). On the other hand, resistances are seen at 102.13 (Jun 12 & 13 highs), 102.20 (10-day SMA) and 102.38 (Jun 11 high).