Sasha Singh
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USDJPY : Key Resistance at 102.38 and 100 Day SMA

USDJPY is currently trading lower on Ukraine Tension providing some support to the Japanese Yen. On the hourly chart, 102.38 seems like a key resistance level for the pair. Also the 100 day SMA seems like acting as a resistance for the pair which previously also resisted the pair to rise above 102.48. Today also the 100 day SMA resisted the pair to rise above it. A rising trend line formed by joining the supports at 101.98 and 102.04 seems like acting as a support trend line for the pair. Any breakout from the resistance at 102.38 or from the 100 day SMA will confirm the uptrend continuation.