4 Mar 2014
USD/JPY capped by 102.00
FXStreet (Edinburgh) - The USD/JPY has resumed its recent upside after tensions around the Crimea peninsula have eased somewhat overnight.
USD/JPY bull run stalled near 102.00
The pair is advancing for the second consecutive session on Tuesday, partially recovering the ground lost during last week after finding decent support in the area of 101.20. A calmer situation between Russia and Ukraine, helped spot to claw back some gains, although the 102.00 barrier still remains elusive. ”USD/JPY is up notably today but is being increasingly driven by events in Russia and hence is likely to remain volatile over the short-term”, commented Derek Halpenny, European Head of Global Markets Research at BTMU.
USD/JPY relevant levels
The pair is now up 0.47% at 101.87 and a surpass of 101.95 (high Mar.4) would aim for 102.00 (psychological level) and then 102.10 (Kijun Sen line). On the downside, the immediate support aligns at 101.40 (low Mar.4) followed by 100.80 (low Feb.5) and finally 100.76 (2014 low Feb.4).
USD/JPY bull run stalled near 102.00
The pair is advancing for the second consecutive session on Tuesday, partially recovering the ground lost during last week after finding decent support in the area of 101.20. A calmer situation between Russia and Ukraine, helped spot to claw back some gains, although the 102.00 barrier still remains elusive. ”USD/JPY is up notably today but is being increasingly driven by events in Russia and hence is likely to remain volatile over the short-term”, commented Derek Halpenny, European Head of Global Markets Research at BTMU.
USD/JPY relevant levels
The pair is now up 0.47% at 101.87 and a surpass of 101.95 (high Mar.4) would aim for 102.00 (psychological level) and then 102.10 (Kijun Sen line). On the downside, the immediate support aligns at 101.40 (low Mar.4) followed by 100.80 (low Feb.5) and finally 100.76 (2014 low Feb.4).