31 Jan 2014
USD/JPY holds below 103.00
FXstreet.com (Córdoba) - The USD/JPY approached 103.00 but lost momentum and pulled back. The US dollar reached a fresh daily high at 102.92, barely above Thursday’s highs but found resistance and fell back toward 102.70.
USD/JPY sideways, Nikkei away from highs
Price action continues to be sideways, within a range with resistance around 102.90 and support above 102.60. Currently the price is approaching the lower limit. Below 102.60, immediate support could be located at 102.50 (American session low) and 102.10 (January 30 low). To the upside, between 102.90 and 103.00 the USD/JPY could continue to find sellers. Above the next resistance might lie at 103.30 and 103.60 (January 24 high).
Stocks in Japan are trimming gains, making difficult for the USD/JPY to break above the 103.00 level. The Nikkei 225 is now up 0.15%; earlier it was rising 0.70%.
USD/JPY sideways, Nikkei away from highs
Price action continues to be sideways, within a range with resistance around 102.90 and support above 102.60. Currently the price is approaching the lower limit. Below 102.60, immediate support could be located at 102.50 (American session low) and 102.10 (January 30 low). To the upside, between 102.90 and 103.00 the USD/JPY could continue to find sellers. Above the next resistance might lie at 103.30 and 103.60 (January 24 high).
Stocks in Japan are trimming gains, making difficult for the USD/JPY to break above the 103.00 level. The Nikkei 225 is now up 0.15%; earlier it was rising 0.70%.