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23 May 2014
USD/JPY faces strong resistance at 102.36
FXStreet (Guatemala) - USD/JPY is trading at 101.74, up 0.01% on the day, having posted a daily high at 101.76 and low at 101.71.
USD/JPY has climbed away from the lows printed yesterday but Karen Jones, chief analyst at Commerzbank, explained that rallies are expected to fail ahead of the 102.36 mid May high. “We are suspicious longer term that the market has topped at 105.45. Loss of psychological support at 100.00 would add weight to that view”.
USD/JPY Levels
Current price is 101.75, with resistance ahead at 101.76 (Daily High), 101.83 (Yesterday's High), 101.87 (Daily 20 SMA), 102.08 (Daily Classic R2) and 102.15 (Weekly Classic R1). Next support to the downside can be found at 101.73 (Daily Open), 101.73 (Weekly Classic PP), 101.72 (Daily Classic R1), 101.71 (Daily Low) and 101.67 (Hourly 200 SMA).
USD/JPY has climbed away from the lows printed yesterday but Karen Jones, chief analyst at Commerzbank, explained that rallies are expected to fail ahead of the 102.36 mid May high. “We are suspicious longer term that the market has topped at 105.45. Loss of psychological support at 100.00 would add weight to that view”.
USD/JPY Levels
Current price is 101.75, with resistance ahead at 101.76 (Daily High), 101.83 (Yesterday's High), 101.87 (Daily 20 SMA), 102.08 (Daily Classic R2) and 102.15 (Weekly Classic R1). Next support to the downside can be found at 101.73 (Daily Open), 101.73 (Weekly Classic PP), 101.72 (Daily Classic R1), 101.71 (Daily Low) and 101.67 (Hourly 200 SMA).