22 Jul 2014
USD/JPY offers some action to the session
FXStreet (Córdoba) - The USD/JPY pressured to fresh daily highs as the yen weakens across the board as investors take a breather from geopolitical developments and focus on economic data.
The USD/JPY climbed above the 101.50 area and reached a 5-day high of 101.56 in recent dealings. However, the pair lacked momentum and retreated a tad to currently trade at 101.50, 0.14% above its opening price.
Yen crosses are the only pairs showing life signs in very quiet a summer trading as focus turns back to a series of US indicators to be released during the New York session, including June CPI, existing home sales and the Richmond Fed manufacturing index for July.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 101.60 (21-day SMA), 101.78 (Jul 16 high) and 101.93 (200-day SMA). On the flip side, supports are seen at 101.19 (Jul 21 low), 101.08/05 (Jul 18 & 10 lows) and 100.81(May 21 low).
The USD/JPY climbed above the 101.50 area and reached a 5-day high of 101.56 in recent dealings. However, the pair lacked momentum and retreated a tad to currently trade at 101.50, 0.14% above its opening price.
Yen crosses are the only pairs showing life signs in very quiet a summer trading as focus turns back to a series of US indicators to be released during the New York session, including June CPI, existing home sales and the Richmond Fed manufacturing index for July.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 101.60 (21-day SMA), 101.78 (Jul 16 high) and 101.93 (200-day SMA). On the flip side, supports are seen at 101.19 (Jul 21 low), 101.08/05 (Jul 18 & 10 lows) and 100.81(May 21 low).