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19 Feb 2014
USD/JPY drops below 102.00
FXStreet (Córdoba) - The USD/JPY has fallen back below the 102.00 mark Wednesday, having already erased yesterday's gains triggered by BoJ move.
The USD/JPY came under pressure after hitting a high of 102.73 Tuesday and having dropped more than 80 pips over the last trading sessions it recently hit a low of 101.91. At time of writing, the USD/JPY is trading at the 101.95 zone, recording a 0.4% loss on the day ahead of the Federal Reserve minutes release.
USD/JPY technical levels
"The bias here is negative, for a break through 101.74, en route to 100.70. Key intraday resistance is projected at 102.26", said Stoyan Mihaylov, analyst at DeltaStock.com .
The USD/JPY came under pressure after hitting a high of 102.73 Tuesday and having dropped more than 80 pips over the last trading sessions it recently hit a low of 101.91. At time of writing, the USD/JPY is trading at the 101.95 zone, recording a 0.4% loss on the day ahead of the Federal Reserve minutes release.
USD/JPY technical levels
"The bias here is negative, for a break through 101.74, en route to 100.70. Key intraday resistance is projected at 102.26", said Stoyan Mihaylov, analyst at DeltaStock.com .