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2 Jun 2014
USD/JPY running into headwinds
FXStreet (Guatemala) - Currently, USD/JPY is trading at 102.42, up 0.65% on the day, having posted a daily high at 102.50 and low at 101.75.
USD/JPY is facing headwinds through 102.40 and weekly highs while the pair is battling in overbought territory. Should upside pressure persist and a move above 102.70, “A quick test of 103.05 seems likely”, explained Valeria Bednarik, chief analyst at FXStreet ,albeit, she explained more gains are not yet seen at the time being.
USD/JPY Levels
Current price is 102.42, with resistance ahead at 102.50 (Daily High), 102.52 (Weekly Classic R2), 102.89 (Weekly Classic R3), 105.31 (Annual High) and 105.31 (3 Year High). Next support to the downside can be found at 102.39 (Daily 100 SMA), 102.31 (Daily Classic R3), 102.26 (Monthly High), 102.14 (Weekly Classic R1) and 102.13 (Hourly 20 EMA).
USD/JPY is facing headwinds through 102.40 and weekly highs while the pair is battling in overbought territory. Should upside pressure persist and a move above 102.70, “A quick test of 103.05 seems likely”, explained Valeria Bednarik, chief analyst at FXStreet ,albeit, she explained more gains are not yet seen at the time being.
USD/JPY Levels
Current price is 102.42, with resistance ahead at 102.50 (Daily High), 102.52 (Weekly Classic R2), 102.89 (Weekly Classic R3), 105.31 (Annual High) and 105.31 (3 Year High). Next support to the downside can be found at 102.39 (Daily 100 SMA), 102.31 (Daily Classic R3), 102.26 (Monthly High), 102.14 (Weekly Classic R1) and 102.13 (Hourly 20 EMA).