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USD/JPY eases off highs to 102.63/71

FXstreet.com (Barcelona) - The USD/JPY upside was capped at the 102.86 region (session high) earlier today during European trading, before easing back towards 102.63/71 in these moments.

At this juncture the cross is still entrenched in positive territory, up +0.40% Tuesday. “With the broader bull trend in place, the next major resistance focus is at 105.60. Meanwhile, support for the USD/JPY is at 101.26, suggesting a bullish intraday view.” notes the UBS Research Team.

According to the ICN.com Analyst Team, “Despite the slight downside bias and negative signals on the stochastic, we find the USD/JPY stable above Linear Regression Indicators indicating the extension of the upside move. Intraday trading above 101.70 keeps the possibility of bullishness valid.”

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