22 Jul 2014
USD/JPY may give to the downside eventually
FXStreet (Guatemala) - USD/JPY is trading at 101.40, up 0.01% on the day, having posted a daily high at 101.43 and low at 101.38.
Much of the same activity around USD/JPY with short-term buyers around 101.20 strong static support area, as Valeria Bednarik, chief analyst at FXSreet but explained, “Confined to a tight 20 pips range for most of the US day, unchanged from past Asian session opening. Analysts at TD Securities explained also that USD/JPY's slide below 200-day MA/cloud chart support draws attention to major support at 100.80. Valeria Bednarik further added, “In the 4 hours chart indicators head higher but still in negative territory, while moving averages stand well above current price, all of which limits chances of a strong recovery”.
USD/JPY levels
With spot trading at 101.41, we can see next resistance ahead at 101.47 (Hourly 200 SMA). Near term support below can be found at 101.34 (Hourly 20 EMA), 101.30 (Daily Classic PP) and 101.19 (Yesterday's Low).
Much of the same activity around USD/JPY with short-term buyers around 101.20 strong static support area, as Valeria Bednarik, chief analyst at FXSreet but explained, “Confined to a tight 20 pips range for most of the US day, unchanged from past Asian session opening. Analysts at TD Securities explained also that USD/JPY's slide below 200-day MA/cloud chart support draws attention to major support at 100.80. Valeria Bednarik further added, “In the 4 hours chart indicators head higher but still in negative territory, while moving averages stand well above current price, all of which limits chances of a strong recovery”.
USD/JPY levels
With spot trading at 101.41, we can see next resistance ahead at 101.47 (Hourly 200 SMA). Near term support below can be found at 101.34 (Hourly 20 EMA), 101.30 (Daily Classic PP) and 101.19 (Yesterday's Low).