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11 Aug 2014
USD/JPY stagnant above 102.00
FXStreet (Córdoba) - The USD/JPY has been confined to a narrow range on Monday, having spent most of the day just above of the 102.00 level in the absence of economic news and easing geopolitical concerns.
The USD/JPY has barely moved during the Asian and European sessions, hovering in a 20-pip range, unable to define a short-term direction. At time of writing, the pair is trading at 102.06, 0.11% below its opening price.
Last Friday, the USD/JPY bottomed out at 101.50 as market jitters kept the yen buoyed, but the dollar managed to recover during the New York session. However, the bounce stalled just shy of the 200-day SMA at the 102.20 area.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 102.00 (psychological level/intraday low), 101.50 (Aug 8 low) and 101.30 (Jul 23 low). On the flip side, resistances are seen at 102.23 (200-day SMA), 102.45 (Aug 7 high) and 102.63 (Aug 6 high).
The USD/JPY has barely moved during the Asian and European sessions, hovering in a 20-pip range, unable to define a short-term direction. At time of writing, the pair is trading at 102.06, 0.11% below its opening price.
Last Friday, the USD/JPY bottomed out at 101.50 as market jitters kept the yen buoyed, but the dollar managed to recover during the New York session. However, the bounce stalled just shy of the 200-day SMA at the 102.20 area.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 102.00 (psychological level/intraday low), 101.50 (Aug 8 low) and 101.30 (Jul 23 low). On the flip side, resistances are seen at 102.23 (200-day SMA), 102.45 (Aug 7 high) and 102.63 (Aug 6 high).