USD/JPY Current price: 123.93
View Live Chart for the USD/JPY
Still waiting for a trigger. The USD/JPY pair remains within a restricted intraday range below the 124.00 level, with short lived spikes above the figure being quickly rejected. The 1 hour chart shows that the price continues hovering between its 100 and 200 SMAs, albeit the technical indicators present a mild negative tone suggesting the pair may extend its decline in the short term, particularly on a break below 123.70 the immediate support, in route to the 123.30 level. In the 4 hours chart the price is holding above its 100 SMA, but the technical indicators are also heading south below their mid-lines, supporting the shorter term view. Advances up to 124.45 should be seen as short term selling opportunities, as only a clear break above the level will support the upside.
Support levels: 123.70 123.30 122.90
Resistance levels: 124.45 124.90 125.30
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