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6 Aug 2014
USD/JPY falls to test 102.25, August low
FXStreet (San Francisco) - The USD/JPY fell to test the lowest level since July 30 at 102.25 where the pair found buying interest, then the pair bottomed there and a bounce drove it higher to 102.40.
Currently, USD/JPY is trading at 102.41, down 0.17% on the day, having posted a daily high at 102.66 and low at 102.24. USD/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/JPY sentiment
The pair is now testing the 200-hour MA to the upside at 102.40. If the pair breaks above it, it would face resistances at 102.50 and 102.90. On the downside, 102.25, 102.10 and 102.00 are supports.
Currently, USD/JPY is trading at 102.41, down 0.17% on the day, having posted a daily high at 102.66 and low at 102.24. USD/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/JPY sentiment
The pair is now testing the 200-hour MA to the upside at 102.40. If the pair breaks above it, it would face resistances at 102.50 and 102.90. On the downside, 102.25, 102.10 and 102.00 are supports.