27 Mar 2014
USD/JPY always comes back to 102.25
FXstreet.com (Moscow) – USD/JPY again rebounded to 102.25 area despite the recent sell-off.
The Yen may go even further
The pair finally broke the bottom of narrow range 102.00-102.60 we saw during the last days. The catalyst was obvious – risk aversion on quite aggressive comments from US President. He said the isolation of Russia would deepen, if the country kept the current course. First, we saw the reaction from stocks; second – from the Yen. And although the pair manages to rebound back to 102.25 area by the moment, the move down is still not ruled out, if Russia reacts back with new sanctions on its side. The initial target in this case is at 101.78 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.13, with support below at 101.78, 101.52 and 101.17, with resistance above at 102.38, 102.73, and 102.99. Hourly Moving Averages are bearish, with the 200SMA at 102.03 and the daily 20EMA at 102.24. Hourly RSI is neutral at 34.
The Yen may go even further
The pair finally broke the bottom of narrow range 102.00-102.60 we saw during the last days. The catalyst was obvious – risk aversion on quite aggressive comments from US President. He said the isolation of Russia would deepen, if the country kept the current course. First, we saw the reaction from stocks; second – from the Yen. And although the pair manages to rebound back to 102.25 area by the moment, the move down is still not ruled out, if Russia reacts back with new sanctions on its side. The initial target in this case is at 101.78 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.13, with support below at 101.78, 101.52 and 101.17, with resistance above at 102.38, 102.73, and 102.99. Hourly Moving Averages are bearish, with the 200SMA at 102.03 and the daily 20EMA at 102.24. Hourly RSI is neutral at 34.