USD/JPY Current price: 101.31

21.05.2014 18:38:53

The USD/JPY quickly reversed course on rising yields, having been as low as 100.82 on the day. The hourly chart however, shows the upward movement may be complete, as indicators reached their midlines, while price retraces from 100 SMA, offering intraday resistance around 101.40. In the 4 hours chart indicators aim higher but remain below their midlines, while moving averages slowly gain bearish slope well above current price. Renewed selling interest below 101.10 should confirm the upward corrective movement is complete, and push the pair back to its daily lows.

Support levels: 101.10 100.70 100.30 

Resistance levels: 101.40 101.65 102.00