4 Feb 2014
USD/JPY's recovery capped at 101.65
FXStreet (San Francisco) - After testing the 100.75 area for second time in the European session, the USD/JPY was trading in recovery mode to break above 101.50 and trade as high as 101.65, however the pair wasn't able to extend gains and now it is pricing at 101.55.
The USD/JPY is currently performing 0.56% in the day. Short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI and Momentum are pointing to the north while the Stochastic and MACD are neutral.
USD/JPY bias
Jamie Coleman from FXBeat commented that the USD/JPY slips as 101.65 caps. "It was pivotal yesterday and it looks to remain pivotal today."
Above the 101.65, the USD/JPY would face resistances at 102.00 and 102.40. On the downside, supports are at 101.30, 101.00 and 100.75.
The USD/JPY is currently performing 0.56% in the day. Short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI and Momentum are pointing to the north while the Stochastic and MACD are neutral.
USD/JPY bias
Jamie Coleman from FXBeat commented that the USD/JPY slips as 101.65 caps. "It was pivotal yesterday and it looks to remain pivotal today."
Above the 101.65, the USD/JPY would face resistances at 102.00 and 102.40. On the downside, supports are at 101.30, 101.00 and 100.75.