The USD/JPY pair closed the first day of the week virtually unchanged and continues to have a tough time making a decisive move in either direction on Tuesday. The USD/JPY pair struggled for a firm directional bias and remained confined in a range, around the 103.6 region through the early European session
The USD/JPY pair is trading above the 50% retracement of its January rally at 103.60. The short-term picture is neutral-to-bullish, according to the 4-hour chart. While technical indicators are directionless, but within positive levels. Bulls will have better chances on a break above 103.90 for move to the upside.
Support levels: 103.35
Resistance levels: 103.90 ,104.00
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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