16 Jan 2014
USD/JPY consolidates losses at 104.30 after bouncing at 104.15
FXstreet.com (San Francisco) - The USD/JPY's decline from 104.75, following the US inflation data, found support at 104.15 with the pair trading back to test the 104.50 area. However the pair wasn't able to trade higher and now it is consolidating around 104.30.
The short term perspective is slightly bullish according to the FXStreet trend index in the 15-minute chart. Indicators are mixed as Momentum is pointing to the north while the CCI is bearish and the Stochastic and MACD are neutral.
USD/JPY levels
With the pair trading at 200 hours MA level at 104.30, next resistances are at 104.50 and 104.75. On the downside, the USD/JPY would face supports at 104.15, 103.60 and 103.30.
The short term perspective is slightly bullish according to the FXStreet trend index in the 15-minute chart. Indicators are mixed as Momentum is pointing to the north while the CCI is bearish and the Stochastic and MACD are neutral.
USD/JPY levels
With the pair trading at 200 hours MA level at 104.30, next resistances are at 104.50 and 104.75. On the downside, the USD/JPY would face supports at 104.15, 103.60 and 103.30.