6 Mar 2014
USD/JPY ranges between 102.20/60; capped by 55 DMA
FXStreet (Guatemala) - USD/JPY is still a quiet range bound play post the Tokyo fix and open.
Karen Jones, chief analyst at Commerzbank said, “At this stage with the topside still capped by the 55 day ma at 103.23 we remain unable to rule out a re-test of the 100.75 February low and the 100.19 200 day ma. Resistance at 103.23 guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo. We have a multitude of supports between 101 and 100, we look for this ‘zone’ to under pin. This area is also reinforced by the 55 week ma at 99.56”.
USD/JPY Levels
The 20 DMA is 102.16, the 50 DMA is 103.17 and the 200 DMA is 100.19. RSI (14) reads 57.71. Supports are ascending from 101.35, 101.59, 101.74 and 102.09. Spot is 102.40 while resistances are 102.47, 102.68 and 102.85.
Karen Jones, chief analyst at Commerzbank said, “At this stage with the topside still capped by the 55 day ma at 103.23 we remain unable to rule out a re-test of the 100.75 February low and the 100.19 200 day ma. Resistance at 103.23 guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo. We have a multitude of supports between 101 and 100, we look for this ‘zone’ to under pin. This area is also reinforced by the 55 week ma at 99.56”.
USD/JPY Levels
The 20 DMA is 102.16, the 50 DMA is 103.17 and the 200 DMA is 100.19. RSI (14) reads 57.71. Supports are ascending from 101.35, 101.59, 101.74 and 102.09. Spot is 102.40 while resistances are 102.47, 102.68 and 102.85.