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28 Nov 2013
USD/JPY consolidates above 102.00
FXstreet.com (Córdoba) - The USD/JPY hovers near 6-month highs Thursday, as rising stocks in Asia and Europe kept the Japanese currency under pressure.
After hitting a 6-month high of 102.27, the USD/JPY staged a short-lived correction and dipped briefly below the 102.00 mark before finding support at the 101.90 area. At time of writing, the USD/JPY is trading at 102.20, virtually unchanged since opening. With US markets closed due to the Thanksgiving holiday, the pair might see some consolidation after yesterday's gains.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 102.27 (daily high) and 102.51 (May 29 high) ahead of 103.00 (psychological level). On the other hand, supports are seen at 101.92 (daily low), 101.14 (Nov 26 low) and 101.00 (psychological level).
After hitting a 6-month high of 102.27, the USD/JPY staged a short-lived correction and dipped briefly below the 102.00 mark before finding support at the 101.90 area. At time of writing, the USD/JPY is trading at 102.20, virtually unchanged since opening. With US markets closed due to the Thanksgiving holiday, the pair might see some consolidation after yesterday's gains.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 102.27 (daily high) and 102.51 (May 29 high) ahead of 103.00 (psychological level). On the other hand, supports are seen at 101.92 (daily low), 101.14 (Nov 26 low) and 101.00 (psychological level).