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25 Feb 2014
USD/JPY sticks to recent range
FXStreet (Córdoba) - The USD/JPY came under pressure during the European session and dropped toward the 102.20 zone after the latest recovery attempt failed to overcome the 102.65/70 zone.
In the absence of major news or events, the USD/JPY continues to oscillate in a range above 102.00 since the weekly opening, unable to set a direction as traders await US data for clues on the economic recovery. At time of writing, the USD/JPY is trading at the 102.35 zone, 0.1% below its opening price, after closing flat the previous day.
USD/JPY technical levels
In terms of technical levels, if the USD/JPY breaks below 102.19 (21-day SMA), it could fall towards 102.00 (psychological level) en route to 101.55 (100-day SMA). On the flip side, resistances are seen at 102.62/67 (Feb 25 & 24 highs), 102.82 (Feb 21 high) and 103.00 (psychological level).
In the absence of major news or events, the USD/JPY continues to oscillate in a range above 102.00 since the weekly opening, unable to set a direction as traders await US data for clues on the economic recovery. At time of writing, the USD/JPY is trading at the 102.35 zone, 0.1% below its opening price, after closing flat the previous day.
USD/JPY technical levels
In terms of technical levels, if the USD/JPY breaks below 102.19 (21-day SMA), it could fall towards 102.00 (psychological level) en route to 101.55 (100-day SMA). On the flip side, resistances are seen at 102.62/67 (Feb 25 & 24 highs), 102.82 (Feb 21 high) and 103.00 (psychological level).