USD/JPY Forecast: USD/JPY modestly higher ahead of US data

Valeria Bednarik FXStreet

USD/JPY Current price: 104.01

View Live Chart for the USD/JPY

USD/JPY modestly higher ahead of US data. The USD/JPY pair traded as high as 104.05 ahead of the US opening, unable however, to get rid of the neutral tone seen last week, as the pair keeps trading in tight intraday' ranges. The 1 hour chart shows that the price is above its 100 and 200 SMAs, but also that technical indicators are retreating towards their mid-lines within positive territory, at least suggesting no selling interest around the pair. In the 4 hours chart, however, the pair presents a modest positive tone, as the price remains well above a bullish 100 SMA, while technical indicators are recovering from around their mid-lines. The immediate resistance comes at 104.20, with a break above it supporting a retest of the monthly high in the 104.60 region.

Support levels: 103.70 103.25 102.90

Resistance levels: 104.20 104.60 105.00

Interested in USD/JPY technicals? Check out the key levels

1. R3 104.23
2. R2 104.13
3. R1 104.01
PP 103.91
1. S1 103.80
2. S2 103.70
3. S3 103.58

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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