5 Dec 2013
USD/JPY finds support following overnight decline
FXstreet.com (Barcelona) - Having declined overnight, led lower by the sharp decline in the Nikkei 225, USD/JPY looks to have found support having posted a morning low at 101.85 and is now trading at 102.09, down -0.13% on the day.
USD/JPY finds support as BoJ Kuroda speaks
Having declined sharply overnight, led by the Nikkei and reaction to the notable decline in foreign investment in Japanese stocks and bonds, USD/JPY has found intraday support at 101.85, just above S1 support at 101.77 as BoJ Governor Kuroda has started delivering a speech. So far, he has stated that Japan will maintain its present QE policy until 2% inflation is sustainably achieved, and he foresees inflation expectations rising gradually.
What are today’s key USD/JPY levels?
Hourly RSI sits at 44 and moving with near term upside momentum. Stochastics are close to oversold territory at 35 and look to have smoothed from the overnight decline. The hourly 200 SMA sits at 102.17 and bearish, with the daily 20 EMA at 101.03 and bullish. The central pivot point today can be found at 102.31. Support below is found at 101.7773 (S1), 101.2832 (S2) and 100.7468 (S3) with resistance above at 102.8078 (R1), 103.3442 (R2) and 103.8383 (R3). Special attention should be paid to the range between 102.71-103.05 where several key levels are clustered.
USD/JPY finds support as BoJ Kuroda speaks
Having declined sharply overnight, led by the Nikkei and reaction to the notable decline in foreign investment in Japanese stocks and bonds, USD/JPY has found intraday support at 101.85, just above S1 support at 101.77 as BoJ Governor Kuroda has started delivering a speech. So far, he has stated that Japan will maintain its present QE policy until 2% inflation is sustainably achieved, and he foresees inflation expectations rising gradually.
What are today’s key USD/JPY levels?
Hourly RSI sits at 44 and moving with near term upside momentum. Stochastics are close to oversold territory at 35 and look to have smoothed from the overnight decline. The hourly 200 SMA sits at 102.17 and bearish, with the daily 20 EMA at 101.03 and bullish. The central pivot point today can be found at 102.31. Support below is found at 101.7773 (S1), 101.2832 (S2) and 100.7468 (S3) with resistance above at 102.8078 (R1), 103.3442 (R2) and 103.8383 (R3). Special attention should be paid to the range between 102.71-103.05 where several key levels are clustered.