17 Jun 2014
USD/JPY working in a tight spot
FXStreet (Guatemala) - USD/JPY is trading at 101.89, up 0.05% on the day, having posted a daily high at 101.92 and low at 101.81.
USD/JPY has been a very tight play and there is no change to that on the open, with the Nikkei up 0.20%. There is nothing on the calendar for us to be looking out for in the near term, although the focus will move towards the FOMC this week. In the 4 hours chart, as whileVal Bednarik, Chief analyst at FXSreet, explained, the technical picture remains mildly bearish, “Yet further slides below 101.70 are required to confirm a move south towards 101.20/30 price zone”.
USD/JPY Levels
With spot trading at 101.89, we can see next resistance ahead at 101.92 (Daily High), 101.94 (Daily Classic PP), 101.99 (Hourly 100 SMA), 102.08 (Daily 20 SMA) and 102.10 (Weekly Classic PP). Support below can be found at 101.85 (Hourly 20 EMA), 101.83 (Daily Open), 101.81 (Daily Low), 101.74 (Daily Classic S1) and 101.72 (Yesterday's Low).
USD/JPY has been a very tight play and there is no change to that on the open, with the Nikkei up 0.20%. There is nothing on the calendar for us to be looking out for in the near term, although the focus will move towards the FOMC this week. In the 4 hours chart, as whileVal Bednarik, Chief analyst at FXSreet, explained, the technical picture remains mildly bearish, “Yet further slides below 101.70 are required to confirm a move south towards 101.20/30 price zone”.
USD/JPY Levels
With spot trading at 101.89, we can see next resistance ahead at 101.92 (Daily High), 101.94 (Daily Classic PP), 101.99 (Hourly 100 SMA), 102.08 (Daily 20 SMA) and 102.10 (Weekly Classic PP). Support below can be found at 101.85 (Hourly 20 EMA), 101.83 (Daily Open), 101.81 (Daily Low), 101.74 (Daily Classic S1) and 101.72 (Yesterday's Low).