23 Apr 2014
USD/JPY's recovery capped at 102.40
FXStreet (San Francisco) - After bouncing at nearly 1-week low at 102.15, the USD/JPY attempted to recover ground above the 102.25 area, however the pair found resistance at 102.40 and it was launched back to previous prices.
"Similar price action in USD/JPY as in EUR/USD today... The 50% retracement of the most recent rally at 102.71 put a firm cap in place for the pair and prices have finally turned lower," commented Jamie Coleman from FXBeat. "The 10-day moving average at 102.13 is providing support so far."
Currently, USD/JPY is trading at 102.30, down 0.30% on the day, having posted a daily high at 102.71 and low at 102.17.
USD/JPY levels
Below the 102.15, the USD/JPY would face supports at 102.00 and 102.85. On the upside, resistances are at 102.40, 102.55 and 102.70 area.
"Similar price action in USD/JPY as in EUR/USD today... The 50% retracement of the most recent rally at 102.71 put a firm cap in place for the pair and prices have finally turned lower," commented Jamie Coleman from FXBeat. "The 10-day moving average at 102.13 is providing support so far."
Currently, USD/JPY is trading at 102.30, down 0.30% on the day, having posted a daily high at 102.71 and low at 102.17.
USD/JPY levels
Below the 102.15, the USD/JPY would face supports at 102.00 and 102.85. On the upside, resistances are at 102.40, 102.55 and 102.70 area.