24 Mar 2014
USD/JPY remains under 102.40 early in Asia
FXStreet (Córdoba) - The USD/JPY opened on Monday steady, trading at 102.20; then printed a daily high at 102.29 and afterwards fell to 102.15. Price action remains calm in Yen crosses ahead of Nikkei opening after Friday’s holiday.
Technical outlook for the USD/JPY
Valeria Bednarik, Chief Analyst at FXStreet affirms that the pair maintains the neutral tone, “trading in between Fibonacci levels since latest FED’s announcement: the impulse given to the pair was not enough to push it through key 102.50 resistance area, 38.2% retracement of the 105.43/100.66 slide”.
“In the 4 hours chart indicators head lower in positive territory, albeit a break below 101.85 or above 102.50 area is required to set a more clearer intraday trend”, says Bednarik.
Technical outlook for the USD/JPY
Valeria Bednarik, Chief Analyst at FXStreet affirms that the pair maintains the neutral tone, “trading in between Fibonacci levels since latest FED’s announcement: the impulse given to the pair was not enough to push it through key 102.50 resistance area, 38.2% retracement of the 105.43/100.66 slide”.
“In the 4 hours chart indicators head lower in positive territory, albeit a break below 101.85 or above 102.50 area is required to set a more clearer intraday trend”, says Bednarik.