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11 Jun 2014
USD/JPY has hope as long as it’s above 102
FXStreet (Moscow) - USD/JPY opened the day at 102.33, reached 102.22 low, and is trading just a bit higher at the moment.
Peace and quiet
The pair again became the hostage of Nikkei moves that came under pressure yesterday, and recovered today. The index closed the session 0.5% up, however, it didn’t help USD/JPY to go return to yesterday highs. The pair has no significant catalysts of economic nature, thus, we continue to see the consolidative moves around 102.30. However, as long as the pair is above 102.00 area, we may hope for the uptrend to continue, and in this case the initial target may be resistance at 102.56.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.32, with support below at 102.17, 102.00 and 101.79 with resistance above at 102.56, 102.77, and 102.94. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.17. Hourly RSI is bearish at 40.
Peace and quiet
The pair again became the hostage of Nikkei moves that came under pressure yesterday, and recovered today. The index closed the session 0.5% up, however, it didn’t help USD/JPY to go return to yesterday highs. The pair has no significant catalysts of economic nature, thus, we continue to see the consolidative moves around 102.30. However, as long as the pair is above 102.00 area, we may hope for the uptrend to continue, and in this case the initial target may be resistance at 102.56.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.32, with support below at 102.17, 102.00 and 101.79 with resistance above at 102.56, 102.77, and 102.94. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.17. Hourly RSI is bearish at 40.