USD/JPY 4 hour offers bulls some hope - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY traded within range, up on the day but still shy of 101.60 immediate resistance today in the US.

Key Quotes:

“The hourly chart shows indicators heading higher above their midlines, and price finding short term support at its 200 SMA, albeit moving averages are horizontal, and with price moving back and forth around them, have become less reliable”.

“In the 4 hours chart indicators head higher in positive territory, yet chances of an advance are subdue to a break above mentioned resistance”.

“Support levels: 101.20 101.05 100.70”.

“Resistance levels: 101.60 101.95 102.35”.