OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY meeting tough resistance ahead of psychological 104 handle

FXStreet (Guatemala) - USD/JPY is trading at 103.92, up 0.06% on the day, having posted a daily high at 103.93 and low at 103.82.

USD/JPY has been pushing towards the 104 handle but has run out of steam here. In the meantime, as Dukascopy Bank Team at Dukascopy Bank SA explained explains, the recently breached resistance at 103 should now act as a floor for the near-term dips. ”There has been a major drop in the percentage of long positions held on USD/JPY since yesterday’s update—it has plunged from 75 down to 59%. But at the same time there are less sell orders—their portion declined from 63 to 58%”.

USD/JPY hourly levels

With spot trading at 103.85, we can see next resistance ahead at 103.97 (Yesterday's High), 104.13 (Daily Classic R1) and 104.49 (Daily Classic R2). Support below can be found at 103.82 (Daily Low), 103.78 (Hourly 20 EMA), 103.76 (Monthly High) and 103.60 (Yesterday's Low).

Aussie paid at 96.70 yens, highest since June 2013

AUD/JPY has broken a consolidation pattern established since late March this year between 93.00 and 96.50, with the rate currently paid at 97.70 yens per 1 Aussie, the highest level it's been since June 2013.
Read more Previous

Australia has exhibited some positive trends - NAB

James Glenn, Senior Economist at NAB, shares his view on the Australian economy, noting that the economy has exhibited some positive trends.
Read more Next
Start livechat