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18 Mar 2014
USD/JPY finds support at 101.25 area
FXStreet (Córdoba) - The USD/JPY resumed the downside and hit fresh lows for the day after the latest recovery attempt was capped by the 101.80 zone.
Amid anxiety over Crimea and cautiousness ahead of the Federal Reserve decision Wednesday, the USD/JPY has spent the day consolidating within its recent range bounded by 102.00 on the upside and 101.20 on the downside, with second-tier US data having little effect on the pair. At time of writing, the pair is trading at the 101.35 zone, down 0.4% on the day, having bottomed out at 101.26, exactly the same level it did yesterday.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate supports at 101.26 (Mar 18 & 17 lows), 101.00 (psychological level) and 100.77 (2014 low Feb 3). On the flip side, resistances are seen at 101.93 (Mar 18 high), 102.23 (100-day SMA) and 102.85 (Mar 13 high).
Amid anxiety over Crimea and cautiousness ahead of the Federal Reserve decision Wednesday, the USD/JPY has spent the day consolidating within its recent range bounded by 102.00 on the upside and 101.20 on the downside, with second-tier US data having little effect on the pair. At time of writing, the pair is trading at the 101.35 zone, down 0.4% on the day, having bottomed out at 101.26, exactly the same level it did yesterday.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate supports at 101.26 (Mar 18 & 17 lows), 101.00 (psychological level) and 100.77 (2014 low Feb 3). On the flip side, resistances are seen at 101.93 (Mar 18 high), 102.23 (100-day SMA) and 102.85 (Mar 13 high).