USD/JPY Current price: 122.97
View Live Chart for the USD/JPY
Lower in range. The USD/JPY pair maintains its neutral stance, having been consolidating below the 123.00 level, ever since the day started. The pair however, set a lower low daily basis at 122.73 before bouncing some. Nevertheless, the pair lacks directional strength as the 1 hour chart shows that the price is trading a few pips below a 100 SMA while the technical indicators are losing their upward strength above their mid-lines. In the 4 hours chart, however, the technical indicators are turning south below their mid-lines after a limited upward correction, increasing the risk of a bearish run on a break below the 122.50 level.
Support levels: 122.80 122.50 122.20
Resistance levels: 123.10 123.45 123.80
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