16 Jun 2014
USD/JPY bounced back to101.90 area
FXStreet (Moscow) - USD/JPY opened the day at 102.06, but immediately started to slide reaching 101.71 low, and rebounded to 101.94 by the moment
FOMC will add some spice
The pair moves are surprisingly limited, as if there were no times when the yen was the most unpredictable and expressive currency among the majors. Now, when Abe is gradually succeeding with all his “arrows”, and the BOJ is not planning to change anything in its stance soon, the only catalyst of the moves is the US data. And so far it has not given many reasons to show high volatility. However, the looming FOMC meeting may add some spice to current trades. The nearest target to the upside may be at 102.24 resistance, while the downside may be limited by 101.70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.94, with support below at 101.74, 101.45 and 101.24 with resistance above at 102.24, 102.44, and 102.73. Hourly Moving Averages are bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.10. Hourly RSI is bearish at 41.
FOMC will add some spice
The pair moves are surprisingly limited, as if there were no times when the yen was the most unpredictable and expressive currency among the majors. Now, when Abe is gradually succeeding with all his “arrows”, and the BOJ is not planning to change anything in its stance soon, the only catalyst of the moves is the US data. And so far it has not given many reasons to show high volatility. However, the looming FOMC meeting may add some spice to current trades. The nearest target to the upside may be at 102.24 resistance, while the downside may be limited by 101.70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.94, with support below at 101.74, 101.45 and 101.24 with resistance above at 102.24, 102.44, and 102.73. Hourly Moving Averages are bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.10. Hourly RSI is bearish at 41.