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USD/JPY clings to 102.00

FXstreet.com (Córdoba) - The US dollar gave up gains versus the yen during the American afternoon as stocks pulled back from highs in Wall Street.

After peaking at 102.49, USD/JPY turned south and slowly edged lower before finding support at the 101.85 zone. USD/JPY bounced slightly and climbed back to the 102.00 area, where it is trading at time of writing, still up 1.0% on the day.

As for technical levels, on the downside, next supports are seen at 101.75 (100-hour SMA) and then at the 101.00/100.80 zone (psychological level/daily lows/21-day SMA). On the upside, resistances could be found at 102.49 (daily high), 102.60 (May 24 high) and 103.00 (psychological level).

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