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29 May 2013
USD/JPY 102.50/101.90 range
FXstreet.com (London) - USD/JPY rose significantly on better consumer confidence out of the US yesterday. A 5yr high number took the pair out from the doldrums of 101.90 to 102.50 over the course of the afternoon in the European session.
There was plenty of activity in the pair there after, when offers capped the gains finding plenty of room without support to take the quote back through to support 101.90. Volatility in the pair remains and two further attempts have been made to breach and close above 102.50 but failing. In Japan, retail sales rose 0.7% MoM in April. Sales rose 1.7% MoM in February only to fall -1.5% MoM in March. Now they’ve risen again in April offering a positive start to the 2nd quarter.
At the time of writing, the pair is being supported above 102.00 around SMA 200 with a bias to the upside so long as closes remain above 101.70 levels. Support levels are 101.35 below and 101.15. A break above 101.60 and out of the triple top territory may open up and advancements towards 103.10 and 103.50.
There was plenty of activity in the pair there after, when offers capped the gains finding plenty of room without support to take the quote back through to support 101.90. Volatility in the pair remains and two further attempts have been made to breach and close above 102.50 but failing. In Japan, retail sales rose 0.7% MoM in April. Sales rose 1.7% MoM in February only to fall -1.5% MoM in March. Now they’ve risen again in April offering a positive start to the 2nd quarter.
At the time of writing, the pair is being supported above 102.00 around SMA 200 with a bias to the upside so long as closes remain above 101.70 levels. Support levels are 101.35 below and 101.15. A break above 101.60 and out of the triple top territory may open up and advancements towards 103.10 and 103.50.