9 May 2014
USD/JPY drifts higher, still down on the week
FXStreet (Córdoba) - Even the USD/JPY has gather some pace at the beginning of the American session as the dollar strengthens across the board, a rally sparked by EUR and GBP downside corrections.
The USD/JPY has managed to climb to fresh daily highs of 101.85 but remains trapped within this week range, that has 102.20 capping the upside and 101.40 containing the downside. From a wider view, the USD/JPY has spent the last 3 months going back and forth in between 101.00 and 104.00, unable to define a direction.
USD/JPY levels to watch
At time of writing, the USD/JPY is trading at 101.80, recording a 0.15% gain on the day and on track to close the week 0.26% lower. To the upside, next resistances could be found at 102.00 (psychological level) and 102.18 (May 6 high). To the downside, supports are seen at 101.32 (Apr 11 low), 101.19 (Mar 3 low) and 101.01 (200-day SMA).
The USD/JPY has managed to climb to fresh daily highs of 101.85 but remains trapped within this week range, that has 102.20 capping the upside and 101.40 containing the downside. From a wider view, the USD/JPY has spent the last 3 months going back and forth in between 101.00 and 104.00, unable to define a direction.
USD/JPY levels to watch
At time of writing, the USD/JPY is trading at 101.80, recording a 0.15% gain on the day and on track to close the week 0.26% lower. To the upside, next resistances could be found at 102.00 (psychological level) and 102.18 (May 6 high). To the downside, supports are seen at 101.32 (Apr 11 low), 101.19 (Mar 3 low) and 101.01 (200-day SMA).