USD/JPY hovering around 102.35

FXStreet (Córdoba) - The USD/JPY is moving sideways around 102.35 in Asia, within a small trading range with support at 102.20 and resistance at 102.40. Earlier the pair fell toward 102.20 but as stocks in Japan trimmed losses moved to the upside. The Nikkei 225 is falling but just 0.06%.

USD/JPY Slightly bullish but…

The four hour chart continues to show a bullish bias, as the pair has been making higher lows but the upside has been capped by the 102.70/80 area several times. So far these week the USD/JPY has not been able to trade even above 102.60. But the downside has been also limited. Yesterday when price approached 102.00 it found buyers.

On Thursday there will be economic data in the US and also Janet Yellen will complete its presentation in the US Congress. Data and comments from the FED Chairman could impact the currency market and particularly the USD/JPY. But trader also could be waiting for next week’s economic reports that include NFP.