USD/JPY: what to expect?
Authored by Kira Iukhtenko
USD/JPY attempted to strengthen in the Asian session, but was rejected by the 102.00 area and now consolidates around 101.90.
Technically, USD/JPY is now trading slightly above the lower border of the 2014 triangle (around 101.60). The pair remains range bound in the tight 102.40/101.40 area. Breakout in one or other way is needed to clear the direction.
We remain bullish as long as the pair holds above the 101.30 mark (April low).Next resistance lies at 102.40, 103.00 and 104.00.
Break below 101.30 would become a selling signal and open the way to the next support lying at 100.75.
Chart. H4 USD/JPY