13 Feb 2014
USD/JPY is under selling pressure in Tokyo; 102.00 support is in sight
FXStreet (Moscow) - USD/JPY moved lower since Tokyo opening and now the pair is actively probing 102.20-15 support zone as the selling pressure is still strong.
USD/JPY is groping in the dark
It seems that USD/JPY just needs some time to decide where to go as the pair has been rangebound since the start of the week. Technically, USD/JPY needs to close firmly above 102.70-80 on the upside or below 102.00 on the downside to get some bias. Japanese economic calendar is practically barren today (we have only corporate goods prices report), so the pair is likely to go on consolidating within the above said range in Asia and Europe as the markets will focus on the US retail sales data. This report may inspire USD/JPY for decisive moves, but for the time being, keep an eye for risk sentiments in general and stock market developments in particular. The pair is likely to be sold on growth to the area of medium offers at 102.60, while the buying interest and shot-term stops are located at 102.00. Once it is broken, the pair will move to 101.80.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.47, with support below at 102.24, 101.99 and 101.76, with resistance above at 102.72, 102.95, and 103.20. Hourly Moving Averages are mostly bearish, with the 200SMA at 101.94 and the daily 20EMA at 102.66. Hourly RSI is neutral at 40.
USD/JPY is groping in the dark
It seems that USD/JPY just needs some time to decide where to go as the pair has been rangebound since the start of the week. Technically, USD/JPY needs to close firmly above 102.70-80 on the upside or below 102.00 on the downside to get some bias. Japanese economic calendar is practically barren today (we have only corporate goods prices report), so the pair is likely to go on consolidating within the above said range in Asia and Europe as the markets will focus on the US retail sales data. This report may inspire USD/JPY for decisive moves, but for the time being, keep an eye for risk sentiments in general and stock market developments in particular. The pair is likely to be sold on growth to the area of medium offers at 102.60, while the buying interest and shot-term stops are located at 102.00. Once it is broken, the pair will move to 101.80.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.47, with support below at 102.24, 101.99 and 101.76, with resistance above at 102.72, 102.95, and 103.20. Hourly Moving Averages are mostly bearish, with the 200SMA at 101.94 and the daily 20EMA at 102.66. Hourly RSI is neutral at 40.