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Forex: USD/JPY consolidates above 102.00

FXstreet.com (Barcelona) - USD/JPY is last at 102.23, little changed for the session being and at same price it was in previous Asia-Pacific open yesterday, printing another fresh 4.5-year high in between at 102.78, at the time US equity indexes are posting all time record highs. Following recently released best GDP figures in Japan for over a year, Nikkei index opens in Tokyo above the 15150 points, adding +0.25% gains, at its highest since late 2007.

As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “The hourly chart shows technical readings flat above their midlines, and price above 100 SMA that advance further, currently around 101.85 offering support in case of retracements,” the analyst says, adding: “However, the upward tone is still undeniable in bigger time frames, and dips continue to be seen as buying opportunities towards 103.60 this week bullish target,” she concludes.

Valeria locates support levels at: 102.00, 101.50 and 101.25, while resistance levels at: 102.40, 102.90 and 103.30.

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