USD/JPY ticking higher on the Nikkei open

FXStreet (Guatemala) - USD/JPY is trading at 101.90, down -0.01% on the day, having posted a daily high at 101.95 and low at 101.84.

USD/JPY is trading slightly up with the Nikkei opening up 0.73%. The pair has been consolidating the move from the highs of the 102 handle and without there being anything on the calendar for the pair, there may be little action. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 62.55, up from 58.91 at the last hour close, while ADX is ranging at 27.89, up from 27.20 previous. Meanwhile, daily RSI is in neutral territory at 39.66.

USD/JPY Levels

Current price is 101.90, with resistance ahead at 101.95 (Daily High), 102.00 (Hourly 100 SMA), 102.02 (Yesterday's High), 102.10 (Daily Classic R1) and 102.18 (Hourly 200 SMA). Next support to the downside can be found at 101.90 (Daily Open), 101.84 (Daily Low), 101.80 (Daily Classic PP), 101.80 (Weekly Classic S1) and 101.74 (Hourly 20 EMA).

USD/JPY chart formations

Looking at price patterns, we can see a Hammer 1-hour candlestick formation.