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4 Jun 2014
USD/JPY holding off from 103 handle
FXStreet (Guatemala) - USD/JPY is trading at 102.69, up 0.20% on the day, having posted a daily high at 102.81 and low at 102.44.
With a rise in US yields, the dollar had pushed on of late to score a high of 102.81 in Asia but has since come off and lost the momentum. USD/JPY now threatens the support line at 102.40. Overall, as Karen Jones, chief analyst at Commerzbank explained, USD/JPY has maintained upside pressure following its recent break above the May high at 102.36. “The break above here targets the 103.21 2014 resistance line. Above 103.21 will target the 104.13 April 2014 high and the 105.45/50 2014 high and long term Fibonacci retracement”.
USD/JPY Levels
Current price is 102.69, with resistance ahead at 102.75 (Daily Classic R2), 102.81 (Daily High), 102.89 (Weekly Classic R3), 102.94 (Daily Classic R3) and 105.31 (Annual High). Next support to the downside can be found at 102.63 (Daily Classic R1), 102.62 (Hourly 20 EMA), 102.57 (Yesterday's High), 102.52 (Weekly Classic R2) and 102.51 (Monthly High).
With a rise in US yields, the dollar had pushed on of late to score a high of 102.81 in Asia but has since come off and lost the momentum. USD/JPY now threatens the support line at 102.40. Overall, as Karen Jones, chief analyst at Commerzbank explained, USD/JPY has maintained upside pressure following its recent break above the May high at 102.36. “The break above here targets the 103.21 2014 resistance line. Above 103.21 will target the 104.13 April 2014 high and the 105.45/50 2014 high and long term Fibonacci retracement”.
USD/JPY Levels
Current price is 102.69, with resistance ahead at 102.75 (Daily Classic R2), 102.81 (Daily High), 102.89 (Weekly Classic R3), 102.94 (Daily Classic R3) and 105.31 (Annual High). Next support to the downside can be found at 102.63 (Daily Classic R1), 102.62 (Hourly 20 EMA), 102.57 (Yesterday's High), 102.52 (Weekly Classic R2) and 102.51 (Monthly High).