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11 Aug 2014
USD/JPY in familiar ranges on the 102 handle
FXStreet (Guatemala) - USD/JPY is trading at 102.16, up 0.14% on the day, having posted a daily high at 102.20 and low at 102.05.
USD/JPY is holding above the 102 levels after a good recovery at the end last week’s business. Analysts at BBH noted that he US dollar rose against most of the major currencies over the past week but said the main exception was the Japanese yen. “The combination of the decline in US yields to new 12-month lows, the drop in equities (S&P 500 reached 3-month lows, and the heightened geopolitical anxiety appears to have prompted a further reduction of short yen positions”. However, the analyst team added that the JPY101-JPY103 range that has confined the dollar for the better part of the past four months remains intact. “We see little from the technical or fundamental vantage point that suggests a break of this range in the coming week. However, view is partly predicated on ideas that US 10-year premium over Japan will not dip below the low for the year set in late May near 185 bp”.
USD/JPY support / resistance levels
Support levels: 101.95 101.60 101.20
Resistance levels: 102.35 102.80 103.10
USD/JPY is holding above the 102 levels after a good recovery at the end last week’s business. Analysts at BBH noted that he US dollar rose against most of the major currencies over the past week but said the main exception was the Japanese yen. “The combination of the decline in US yields to new 12-month lows, the drop in equities (S&P 500 reached 3-month lows, and the heightened geopolitical anxiety appears to have prompted a further reduction of short yen positions”. However, the analyst team added that the JPY101-JPY103 range that has confined the dollar for the better part of the past four months remains intact. “We see little from the technical or fundamental vantage point that suggests a break of this range in the coming week. However, view is partly predicated on ideas that US 10-year premium over Japan will not dip below the low for the year set in late May near 185 bp”.
USD/JPY support / resistance levels
Support levels: 101.95 101.60 101.20
Resistance levels: 102.35 102.80 103.10