10 Apr 2014
USD/JPY is testing the support of 101.70; bears are strong
FXStreet (Moscow) - USD/JPY feels the bearish pressure early in Asia as the pair tired to break above 102.00, but failed to hold ground and returned to the support of 101.70.
USD/JPY: to fall or not to fall?
On Wednesday USD/JPY took a time-out after the disgraceful drop on Tuesday. The pair managed to finish the day in the green zone, though the gains was only marginal. Anyway this dynamics allows a cautious suggestion that USD/JPY will enter the consolidation phase or even start a mild upside correction. Nikkei 225 climbed to 1498 (0.69% gain) early in the morning, following the positive dynamics of the Wall Street triggered by more dovish FED. But we need to see a substantial improvement in risk sentiments to get the Yen weakening again. The key resistance comes at 102.00 with stops above that level and up to 102.10. The support is seen at 101.70 and followed by 101.50.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.96, with support below at 101.75, 101.51 and 101.30 with resistance above at 102.20, 102.41, and 102.66. Hourly Moving Averages are largely bearish, with the 200SMA at 103.14 and the daily 20EMA at 102.66. Hourly RSI is bearish at 44.
USD/JPY: to fall or not to fall?
On Wednesday USD/JPY took a time-out after the disgraceful drop on Tuesday. The pair managed to finish the day in the green zone, though the gains was only marginal. Anyway this dynamics allows a cautious suggestion that USD/JPY will enter the consolidation phase or even start a mild upside correction. Nikkei 225 climbed to 1498 (0.69% gain) early in the morning, following the positive dynamics of the Wall Street triggered by more dovish FED. But we need to see a substantial improvement in risk sentiments to get the Yen weakening again. The key resistance comes at 102.00 with stops above that level and up to 102.10. The support is seen at 101.70 and followed by 101.50.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.96, with support below at 101.75, 101.51 and 101.30 with resistance above at 102.20, 102.41, and 102.66. Hourly Moving Averages are largely bearish, with the 200SMA at 103.14 and the daily 20EMA at 102.66. Hourly RSI is bearish at 44.