15 Jul 2014
USD/JPY is edging lower and expecting Yellen
FXStreet (Moscow) - USD/JPY opened at 101.53, added 10 pips, and is trading above 101.60 at the moment.
If Janet could…
The pair is showing signs of rising in expectation of Yellen’s testimony scheduled for tonight. There were speculations on more aggressive stance of some FOMC members on Monday. The roots of this lie in the Hilsenrath’s article in WSJ where he cites the opinion of some officials ready to start tightening earlier than expected based on the labor market strength. If Janet confirms such possibility in her speech, it may give the pair the needed fuel to break above 102.00 area.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.50, with support below at 101.36, 101.18 and 101.04 with resistance above at 101.68, 101.82, and 101.99. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.70 and the daily 20EMA at 101.72. Hourly RSI is bullish at 69.
If Janet could…
The pair is showing signs of rising in expectation of Yellen’s testimony scheduled for tonight. There were speculations on more aggressive stance of some FOMC members on Monday. The roots of this lie in the Hilsenrath’s article in WSJ where he cites the opinion of some officials ready to start tightening earlier than expected based on the labor market strength. If Janet confirms such possibility in her speech, it may give the pair the needed fuel to break above 102.00 area.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.50, with support below at 101.36, 101.18 and 101.04 with resistance above at 101.68, 101.82, and 101.99. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.70 and the daily 20EMA at 101.72. Hourly RSI is bullish at 69.