10 Apr 2014
USD/JPY attempting to make further lows below 101.40
FXStreet (San Francisco) - The USD/JPY is extending its decline from 102.00 and currently it is attempting to make further lows below 101.40 as the pair is pricing at lows since March 19 at 101.35.
According to Chris Tevere from Forex.com: the "USD/JPY is attempting to break below channel support, drawn from the Feb. Low around 101.50." Tevere affirms that a "daily close below needed for confirmation."
Currently, USD/JPY is trading at 101.38, down -0.59% on the day, having posted a daily high at 102.16 and low at 101.35. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY levels to watch
Supports can be found at 101.38 (Daily Low), 101.36 (Monthly Low) and 101.00 (YTD Low). On the upside, the USD/JPY would face resistances at 101.50, 101.80 and 102.00.
According to Chris Tevere from Forex.com: the "USD/JPY is attempting to break below channel support, drawn from the Feb. Low around 101.50." Tevere affirms that a "daily close below needed for confirmation."
Currently, USD/JPY is trading at 101.38, down -0.59% on the day, having posted a daily high at 102.16 and low at 101.35. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
USD/JPY levels to watch
Supports can be found at 101.38 (Daily Low), 101.36 (Monthly Low) and 101.00 (YTD Low). On the upside, the USD/JPY would face resistances at 101.50, 101.80 and 102.00.