29 Apr 2014
USD/JPY broke above 102.50 on nothing
FXStreet (Moscow) - USD/JPY finally broke above 102.50 area, and rushed to weekly high at 102.66.
Employment milestones
USD/JPY managed to settle above 102.50 area, though the move higher was not an easy task given the lack of catalysts in Asia and Europe. Even though the US economic calendar is full of market-moving events this week, today we will only see consumer confidence index. Given the rising momentum in labor market, we have all the reasons to expect higher numbers from the scheduled for release report. Nevertheless, the market may ignore the release as it is more focused on the looming employment data. The upside for the pair is limited by the initial resistance at 102.74, and the downside is supported by 102.14.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.39, with support below at 102.14, 101.79 and 101.54 with resistance above at 102.74, 102.99, and 103.34. Hourly Moving Averages are bullish , with the 200SMA at 102.38 and the daily 20EMA at 102.39. Hourly RSI is bullish at 59.
Employment milestones
USD/JPY managed to settle above 102.50 area, though the move higher was not an easy task given the lack of catalysts in Asia and Europe. Even though the US economic calendar is full of market-moving events this week, today we will only see consumer confidence index. Given the rising momentum in labor market, we have all the reasons to expect higher numbers from the scheduled for release report. Nevertheless, the market may ignore the release as it is more focused on the looming employment data. The upside for the pair is limited by the initial resistance at 102.74, and the downside is supported by 102.14.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.39, with support below at 102.14, 101.79 and 101.54 with resistance above at 102.74, 102.99, and 103.34. Hourly Moving Averages are bullish , with the 200SMA at 102.38 and the daily 20EMA at 102.39. Hourly RSI is bullish at 59.