OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY not showing signs of real strength

FXStreet (Guatemala) - Currently, USD/JPY is trading at 102.44, up 0.02% on the day, having posted a daily high at 102.46 and low at 102.41.

On the back of the poor GDP numbers from yesterday the USD/JPY is walking at a slow pace with the bulls and Valeria Bednarik, chief analyst at FXstreet explained that the daily high of 102.54 was seen in the US session and had been slightly firmer on the day, but still not showing any real actual strength at the time being. “The hourly chart shows price standing above 100 and 200 SMAs with this last now offering dynamic support around 102.30; indicators in the same time frame had lost their upward tone but hold above their midlines, while the 4 hours chart presents a positive tone coming from technical readings, that supports a test of 102.80 immediate resistance”.

USD/JPY support and resistance levels

Support levels: 102.30 101.95 101.60

Resistance levels: 102.80 103.10 103.45

NZ Business PMI, retail sales eyed - BNZ

Craig Ebert, Economist at BNZ, reviews the upcoming NZ retail sales and business PMI data, noting that they are looking for a 0.8% gain in real (inflation-adjusted) terms, with the market median at 1.0%
Read more Previous

New 3-year GBP/USD bear trend to develop? - SocGen

Kit Juckes, Head of FX Strategy at Societe Generale, notes that the Sterling has been a very annoying currency, but is finally falling, and he expects now a 3-year GBP/USD bear trend to develop.
Read more Next
Start livechat