28 May 2014
USD/JPY halts decline at 10-day SMA
FXStreet (Córdoba) - The USD/JPY managed to halt the decline and even recover slightly despite US yields extend the sell-off, with 10-yr at 2.44%, its lowest in 10 months.
The USD/JPY however found support at the 10-day SMA at 101.63 and bounced, trimming intraday losses. At time of writing, the USD/JPY is trading at the 101.75, still 0.21% below its opening price.
USD/JPY technical levels
To the downside, if USD/JPY breaks below 101.63, next supports are seen at 101.35 (May 22 low) and 101.00 (psychological level). On the other hand, resistances could be found at 102.02 (May 28 high), 102.13 (May 27 high) 102.28 (May 14 high).
The USD/JPY however found support at the 10-day SMA at 101.63 and bounced, trimming intraday losses. At time of writing, the USD/JPY is trading at the 101.75, still 0.21% below its opening price.
USD/JPY technical levels
To the downside, if USD/JPY breaks below 101.63, next supports are seen at 101.35 (May 22 low) and 101.00 (psychological level). On the other hand, resistances could be found at 102.02 (May 28 high), 102.13 (May 27 high) 102.28 (May 14 high).