24 Jun 2014
USD/JPY uncompelling ahead of 2 month resistance
FXStreet (Guatemala) - USD/JPY is trading at 102.03, up 0.11% on the day, having posted a daily high at 102.18 and low at 101.82.
USD/JPY remains in a tight range and there are no signs or compelling reasons to expect a break out of the 101.45/102.60 spot currently. Karen Jones, chief analyst at Commerzbank confirmed the range and said, “Rallies will find initial resistance at 102.38/42 (2 month resistance line) ahead of the 2014 resistance line at 102.95. We currently have no strong bias either way”.
USD/JPY Levels
With spot trading at 102.04, we can see next resistance ahead at 102.05 (Daily 20 SMA), (Weekly Classic PP), 102.11 (Daily Classic R1), 102.14 (Weekly High) and 102.15 (Yesterday's High). Support below can be found at 101.97 (Hourly 200 SMA), (Daily Classic PP), (Hourly 20 EMA), (Hourly 100 SMA) and 101.93 (Daily Open).
USD/JPY remains in a tight range and there are no signs or compelling reasons to expect a break out of the 101.45/102.60 spot currently. Karen Jones, chief analyst at Commerzbank confirmed the range and said, “Rallies will find initial resistance at 102.38/42 (2 month resistance line) ahead of the 2014 resistance line at 102.95. We currently have no strong bias either way”.
USD/JPY Levels
With spot trading at 102.04, we can see next resistance ahead at 102.05 (Daily 20 SMA), (Weekly Classic PP), 102.11 (Daily Classic R1), 102.14 (Weekly High) and 102.15 (Yesterday's High). Support below can be found at 101.97 (Hourly 200 SMA), (Daily Classic PP), (Hourly 20 EMA), (Hourly 100 SMA) and 101.93 (Daily Open).