26 May 2014
USD/JPY remains below 102.00
FXStreet (Edinburgh) - The USD/JPY is trading almost unchanged on Monday, keeping the narrow range around 101.90 with upside attempts capped by 102.00 so far.
USD/JPY supported around 100.75
The pair is extending the recent bounce off sub-101.00 levels last week, gathering traction pari pasu with a better sentiment around the greenback. No news from the Japanese docket today with the next relevant release being the Retail Trade (Apr) figures due on Wednesday (-3.3% YoY exp.). According to analysts at BTMU, “the global risk sentiment may improve further as a repercussion of the recent US treasury yield lowering. Furthermore, steady domestic flows, importer’s yen selling pressure and capital outflows of foreign direct investment from Japanese corporate are likely to continue to support USD/JPY buying”.
USD/JPY levels to watch
As of writing the pair is losing 0.06% at 101.91 with the next support at 101.59 (low May 23) ahead of 101.33 (200-d MA) and finally 100.81 (low May 21). On the upside, a break above 102.05 (high May 26) would target 102.13 (high May 15) en route to 102.28 (high May 14).
USD/JPY supported around 100.75
The pair is extending the recent bounce off sub-101.00 levels last week, gathering traction pari pasu with a better sentiment around the greenback. No news from the Japanese docket today with the next relevant release being the Retail Trade (Apr) figures due on Wednesday (-3.3% YoY exp.). According to analysts at BTMU, “the global risk sentiment may improve further as a repercussion of the recent US treasury yield lowering. Furthermore, steady domestic flows, importer’s yen selling pressure and capital outflows of foreign direct investment from Japanese corporate are likely to continue to support USD/JPY buying”.
USD/JPY levels to watch
As of writing the pair is losing 0.06% at 101.91 with the next support at 101.59 (low May 23) ahead of 101.33 (200-d MA) and finally 100.81 (low May 21). On the upside, a break above 102.05 (high May 26) would target 102.13 (high May 15) en route to 102.28 (high May 14).