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1 Jul 2014
USD/JPY breaks though 101.50
FXStreet (Bali) - USD/JPYis breaking above the 101.50 level, setting a session high of 101.53 after a series of rejections off 101.25/30 support on Monday.
Technically, Jim Langlands, Founder at FXCharts, explained that once 101.50 is out of the way, the pair "will see sellers ahead of the 200 DMA at 101.65", although Jim points that "the dollar really needs to break above this latter in order to stabilise, above which would see sellers ahead of 102.00 at around 101.75, where the base of the daily cloud currently lies."
Technically, Jim Langlands, Founder at FXCharts, explained that once 101.50 is out of the way, the pair "will see sellers ahead of the 200 DMA at 101.65", although Jim points that "the dollar really needs to break above this latter in order to stabilise, above which would see sellers ahead of 102.00 at around 101.75, where the base of the daily cloud currently lies."