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USD/JPY in neutral territory ahead of big week

FXStreet (Guatemala) - USD/JPY is trading at 107.18, down -0.15% on the day, having posted a daily high at 107.38 and low at 107.01.

USD/JPY is holding up on the 107 handle and maintains yearly highs while traders remain cautious ahead of a data packed week including the FOMC. From data today, we had some activity around worse than expected US numbers that took the pair to test the psychological level at 107.00, while now however, we currently trade at a neutral position again with bulls backing up the greenback. Meanwhile, Valeria Bednarik, Chief analyst at FXStreet explains that in the 4 hours chart RSI re-entered below 70 but momentum regains the upside above 100, which limits chances of a downward move. “To the upside, 107.40 is the level to break to see the bullish trend resuming towards 108.00 price zone”.

USD/JPY support resistance levels

Support levels: 106.80 106.50 106.10

Resistance levels: 107.40 107.90 108.20

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