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31 Jul 2014
USD/JPY consolidates in Tokyo sub 103 handle
FXStreet (Guatemala) - USD/JPY is trading at 102.82, up 0.04% on the day, having posted a daily high at 102.90 and low at 102.79.
USD/JPY is consolidating the US session with a proud greenback that has taken the pair back into threatening territory for the bears having breached and teased around the 103 handle on the surprise in the US GDP number. Weekly support is containing the pair here but the overbought conditions and fashion of the spike may require a concerted effort from the less committed bulls to hang in here to offer form at this key level. The Jobs numbers from the US will be especially key at this stage in the game.
USD/JPY Levels
With spot trading at 102.82, we can see next resistance ahead at 102.84 (Daily High), 102.89 (Weekly Classic R3), 103.10, 103.40, 103.80 and 105.31 (Annual High) and 105.31 (3 Year High). Support below can be found at 102.79 (Daily Open), 102.79 (Monthly High), 102.79 ,102.35 and 101.95.
USD/JPY is consolidating the US session with a proud greenback that has taken the pair back into threatening territory for the bears having breached and teased around the 103 handle on the surprise in the US GDP number. Weekly support is containing the pair here but the overbought conditions and fashion of the spike may require a concerted effort from the less committed bulls to hang in here to offer form at this key level. The Jobs numbers from the US will be especially key at this stage in the game.
USD/JPY Levels
With spot trading at 102.82, we can see next resistance ahead at 102.84 (Daily High), 102.89 (Weekly Classic R3), 103.10, 103.40, 103.80 and 105.31 (Annual High) and 105.31 (3 Year High). Support below can be found at 102.79 (Daily Open), 102.79 (Monthly High), 102.79 ,102.35 and 101.95.