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12 Feb 2014
USD/JPY hovering around 102.50 in Asia
FXStreet (Córdoba) - The USD/JPY moved to the downside early in Asia and bottomed at 102.46. Stocks in Japan reopened after holiday, in positive after strong gains in Wall Street. The Nikkei 225 was rising 0,7% in the first minutes of trading.
USD/JPY finds resistance again near 102.70
The Yen fell across the board on Tuesday and currently is trimming a small part of the losses. During the American session the USD/JPY peaked at 102.69 and lost momentum. For the second day in a row failed to confirm levels on top of 102.65.
Despite retreating in Asia, the USD/JPY continues to move with a short-term upside bias, with support levels at 102.40 and 102.00. To the upside once above 102.70, the rally could accelerate toward the next resistance that might lie at 102.90 (January 30, 31 highs) and above at 103.20 and 103.40.
USD/JPY finds resistance again near 102.70
The Yen fell across the board on Tuesday and currently is trimming a small part of the losses. During the American session the USD/JPY peaked at 102.69 and lost momentum. For the second day in a row failed to confirm levels on top of 102.65.
Despite retreating in Asia, the USD/JPY continues to move with a short-term upside bias, with support levels at 102.40 and 102.00. To the upside once above 102.70, the rally could accelerate toward the next resistance that might lie at 102.90 (January 30, 31 highs) and above at 103.20 and 103.40.