USD/JPY unable to consolidate above 104.00

Ani Salama FXStreet

USD/JPY made another attempt to climb above the 104 mark, but it was rejected at the beginning of the New York session.

USD/JPY reached out a peak of 104.05 but failed to sustain gains and pulled back to the 103.90 area after data showed US Chicago Fed National Activity Index remained in negative ground for September.

At time of writing, the pair is trading at 103.95 still up 0.13% on the day, but overall well-within last days’ range, unable to trigger a longer-term directional move.

USD/JPY levels to watch

In terms of technical levels, next supports are seen at 103.51 (Oct 21 low), 102.99 (100-day SMA) and 102.80 (Oct 10 low). On the other hand, resistances are seen at 104.19 (Oct 21 high), 104.62 (Oct 13 high) and 105.00 (psychological level).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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