USD/JPY trades below 102.25

FXStreet (San Francisco) - The US dollar is extending its decline against the Japanese yen after the weak Q1 GDP report in US. Following a 40 pips drop from 102.65, the USD/JPY is testing daily lows around 102.20.

Currently, USD/JPY is trading at 102.29, down 0.34% on the day, having posted a daily high at 102.67 and low at 102.24. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bullish.

USD/JPY levels

Below the 102.25 area, the USD/JPY would face supports at 102.05 and 101.95. On the upside, 102.65, 102.75 and 102.95 would be resistances.