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10 Feb 2014
USD/JPY holds above 102.00
FXStreet (Córdoba) - The setback of the USD/JPY was contained by the 102.00 area during the New York session, allowing the pair to recover some ground over the last hours.
The USD/JPY briefly dipped below the 102.00 mark and bottomed out at 101.98, but buyers reappeared at that level. The pair has been staging a mild correction from a 10-day high of 102.63 scored at the weekly opening. At time of writing the USD/JPY is trading at the 102.15 zone, 0.3% below its opening price.
USD/JPY technical outlook
Valeria Bednarik, chief analyst at FXStreet notes the USD/JPY holds a neutral stance in short-term charts. "In the 4 hours chart the pair has lost the upward potential seen over the past few days, albeit a break below 101.65 support area is required to confirm a bearish continuation in the pair".
The USD/JPY briefly dipped below the 102.00 mark and bottomed out at 101.98, but buyers reappeared at that level. The pair has been staging a mild correction from a 10-day high of 102.63 scored at the weekly opening. At time of writing the USD/JPY is trading at the 102.15 zone, 0.3% below its opening price.
USD/JPY technical outlook
Valeria Bednarik, chief analyst at FXStreet notes the USD/JPY holds a neutral stance in short-term charts. "In the 4 hours chart the pair has lost the upward potential seen over the past few days, albeit a break below 101.65 support area is required to confirm a bearish continuation in the pair".