Forex: USD/JPY 100.00 Support Possible Today

on May 30, 2013

Yesterday the USD/JPY opened at 102.52 (daily high), dropped to 100.71 low and closed at 100.94. Right now the price is testing yesterday’s low after the pair came down to 100.47 during Asian trading earlier in the day.

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The price action has crossed below the ascending MA89 on the 5H chart but is still above the MA200.
The MACD and RSI indicators are pointing down on the daily and 5H timeframes.
Today the pair may test the psychological 100 support level, followed by the 99.94 and 99.88 tops from April.
To the upside, the targets would be 102.50 and 103.73.


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JPY Forex