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Forex: USD/JPY returns to the 102.20/30 area

FXstreet.com (Córdoba) - Following a modest setback triggered by worse-than-expected data, USD/JPY seems to have found an intraday bottom at 101.83, from where it bounced in recent dealings.

USD/JPY managed to climb back above the 100-hour SMA and the 102.00 mark to reach an hourly peak of 102.31. At time of writing, the pair is trading at the 102.25 area, virtually unchanged on the day.

In terms of technical levels, next resistances are seen at 102.68 (daily high) and 102.76 (high May 15), while supports could be found at 101.83 (daily low) and 101.40 (38.2% of 96.99/102.76).

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