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18 Apr 2014
USD/JPY is drifting lower; 102.30 is in sight
FXStreet (Moscow) - USD/JPY retraced from intraday high of 102.57 to current levels of 102.37
No news is good news
Positive US weekly jobless claims coupled with better than expected Philly FED survey encouraged investors on Thursday. and triggered mild USD buying into the end of the day. USD/JPY closed on the upper side of the day’s range and got its fifth green candle on daily charts. But the bullish momentum was not strong enough to bring the pair above the medium offers seen at 102.50. Early in Asia USD/JPY managed to touch 102.57, but the move ran out of steam as the pair resumed moving down. Japan Feb. wages were revised down to -0.1% y/y from preliminary 0.0%, but investors mostly ignored this news and went on with pushing the Yen higher. The closest support for USD/JPY is seen at current Asian low of 102.30 and followed by strong demand at 101.85. The resistance lies at 102.50 with offers on approach.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.24, with support below at 102.01, 101.62 and 101.39 with resistance above at 102.63, 102.86, and 103.25. Hourly Moving Averages are bullish, with the 200SMA at 102.00 and the daily 20EMA at 102.35. Hourly RSI is bullish at 70.
No news is good news
Positive US weekly jobless claims coupled with better than expected Philly FED survey encouraged investors on Thursday. and triggered mild USD buying into the end of the day. USD/JPY closed on the upper side of the day’s range and got its fifth green candle on daily charts. But the bullish momentum was not strong enough to bring the pair above the medium offers seen at 102.50. Early in Asia USD/JPY managed to touch 102.57, but the move ran out of steam as the pair resumed moving down. Japan Feb. wages were revised down to -0.1% y/y from preliminary 0.0%, but investors mostly ignored this news and went on with pushing the Yen higher. The closest support for USD/JPY is seen at current Asian low of 102.30 and followed by strong demand at 101.85. The resistance lies at 102.50 with offers on approach.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.24, with support below at 102.01, 101.62 and 101.39 with resistance above at 102.63, 102.86, and 103.25. Hourly Moving Averages are bullish, with the 200SMA at 102.00 and the daily 20EMA at 102.35. Hourly RSI is bullish at 70.