26 Mar 2014
USD/JPY drops below 102.00
FXStreet (Edinburgh) - A sudden bout of risk appetite is now quickly dragging the USD/JPY to lows beyond the 102.00 critical support.
USD/JPY sell-off continues
The selling pressure around the greenback is now sharpening, pushing spot to fresh multi-day lows near 101.90 and the DXY below the psychological mark at 80.00. “USD-JPY may continue to be repelled on downside dips if investor sentiment remains on a positive note and the background Fed-dollar dynamic. Expect 102.00 to support in the short term while the confluence of the 55-day (102.63) and 100-day MA (102.60) may present a near term resistance zone”, observed Emmanuel Ng, Strategist at OCBC Bank.
USD/JPY important levels
At the moment the pair is losing 0.19% at 102.05 with the immediate support at 101.30 (low Mar.19) ahead of 101.20 (low Mar.3). On the upside, a surpass of 102.48 (Kijun Sen) would expose 102.69 (high Mar.19) and finally 102.86 (high Mar.13).
USD/JPY sell-off continues
The selling pressure around the greenback is now sharpening, pushing spot to fresh multi-day lows near 101.90 and the DXY below the psychological mark at 80.00. “USD-JPY may continue to be repelled on downside dips if investor sentiment remains on a positive note and the background Fed-dollar dynamic. Expect 102.00 to support in the short term while the confluence of the 55-day (102.63) and 100-day MA (102.60) may present a near term resistance zone”, observed Emmanuel Ng, Strategist at OCBC Bank.
USD/JPY important levels
At the moment the pair is losing 0.19% at 102.05 with the immediate support at 101.30 (low Mar.19) ahead of 101.20 (low Mar.3). On the upside, a surpass of 102.48 (Kijun Sen) would expose 102.69 (high Mar.19) and finally 102.86 (high Mar.13).