28 Apr 2014
USD/JPY lies low in 20-pips range
FXStreet (Moscow) - USD/JPY has recovered from Asian low of 102.03 and settled close to the opening level of 102.13.
Saving strength before busy week
USD/JPY is comfy in its tight range. Bearish sentiments of the previous week resulted in 30 pips loss, though 102.00 support proved to be strong even in the light of anti-risk sentiments. Dovish comments of Japanese officials coupled with rather weak data from Japan limited the JPY upside. Strong retail sales numbers (+6.3% in March after +0.3% in February) published late on Sunday were mostly ignored by the market, though it might be used as an additional excuse to chase JPY higher later during the day. From the technical point of view, the bears need to overcome 102.00 hurdle followed by a strong support of 101.85 with strong demand on approach. The bulls will target at current Asian high of 102.24 and 55-day MA at 102.39.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.22, with support below at 101.93, 101.66 and 101.37 with resistance above at 102.48, 102.77, and 103.04. Hourly Moving Averages are bearish, with the 200SMA at 102.34 and the daily 20EMA at 102.38. Hourly RSI is bearish at 42.
Saving strength before busy week
USD/JPY is comfy in its tight range. Bearish sentiments of the previous week resulted in 30 pips loss, though 102.00 support proved to be strong even in the light of anti-risk sentiments. Dovish comments of Japanese officials coupled with rather weak data from Japan limited the JPY upside. Strong retail sales numbers (+6.3% in March after +0.3% in February) published late on Sunday were mostly ignored by the market, though it might be used as an additional excuse to chase JPY higher later during the day. From the technical point of view, the bears need to overcome 102.00 hurdle followed by a strong support of 101.85 with strong demand on approach. The bulls will target at current Asian high of 102.24 and 55-day MA at 102.39.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.22, with support below at 101.93, 101.66 and 101.37 with resistance above at 102.48, 102.77, and 103.04. Hourly Moving Averages are bearish, with the 200SMA at 102.34 and the daily 20EMA at 102.38. Hourly RSI is bearish at 42.