7 Jul 2014
USD/JPY remains range bound with bullish bias
FXStreet (Guatemala) - USD/JPY is trading at 101.83, down -0.24% on the day, having posted a daily high at 102.22 and low at 101.82.
Despite the USD/JPY’s recent losses, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank reminds us that the USD/JPY is relatively strong, but say’s it is still trading within last week’s range. “The broader range in USDJPY falls between 100.75 and 104.15, we do not expect these levels to be broken in the near‐term. There is a slew of Japanese data this week, including trade, PPI and confidence”. Daily RSI sits at 53.13, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 102.08, up from the last close at 101.73 and climbing.
USD/JPY Levels
Current price is 101.84, with resistance ahead at 101.87 (Weekly Classic PP), 101.88 (Hourly 100 SMA), 101.90 (Daily 20 SMA), 101.94 (Daily Classic S1) and 101.97 (Yesterday's Low). Next support to the downside can be found at 101.82 (Daily Low), 101.80 (Daily Classic S2), 101.78 (Daily 200 SMA), 101.73 (Hourly 200 SMA) and 101.64 (Daily Classic S3).
Despite the USD/JPY’s recent losses, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank reminds us that the USD/JPY is relatively strong, but say’s it is still trading within last week’s range. “The broader range in USDJPY falls between 100.75 and 104.15, we do not expect these levels to be broken in the near‐term. There is a slew of Japanese data this week, including trade, PPI and confidence”. Daily RSI sits at 53.13, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 102.08, up from the last close at 101.73 and climbing.
USD/JPY Levels
Current price is 101.84, with resistance ahead at 101.87 (Weekly Classic PP), 101.88 (Hourly 100 SMA), 101.90 (Daily 20 SMA), 101.94 (Daily Classic S1) and 101.97 (Yesterday's Low). Next support to the downside can be found at 101.82 (Daily Low), 101.80 (Daily Classic S2), 101.78 (Daily 200 SMA), 101.73 (Hourly 200 SMA) and 101.64 (Daily Classic S3).