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20 Feb 2014
USD/JPY bounces back toward 102.00
FXStreet (Córdoba) - The USD/JPY failed to extend its bounce above the 102.45 zone after the Fed minutes yesterday and came under pressure during the Asian session weighed by risk aversion.
The USD/JPY slid back below the 102.00 mark and fell toward a 3-day low of 101.66 before finding support. At time of writing, the USD/JPY is trading at the 101.90 zone, recording a 0.4% loss Thursday.
The USD/JPY has had a choppy week amid BoJ decision and Fed minutes and a string of disappointing US data, having oscillated up and down around 102.00. However, from a wider perspective, the pair has remained mainly within previous weeks' range.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 101.66 (Feb 20 low), 101.40 (100-day SMA) and 101.23 (Feb 6 low). On the other hand, resistances are seen at 102.45 (Feb 19 high), 102.73 (Feb 18 high) and 103.00 (psychological level).
The USD/JPY slid back below the 102.00 mark and fell toward a 3-day low of 101.66 before finding support. At time of writing, the USD/JPY is trading at the 101.90 zone, recording a 0.4% loss Thursday.
The USD/JPY has had a choppy week amid BoJ decision and Fed minutes and a string of disappointing US data, having oscillated up and down around 102.00. However, from a wider perspective, the pair has remained mainly within previous weeks' range.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 101.66 (Feb 20 low), 101.40 (100-day SMA) and 101.23 (Feb 6 low). On the other hand, resistances are seen at 102.45 (Feb 19 high), 102.73 (Feb 18 high) and 103.00 (psychological level).