24 Mar 2014
USD/JPY extends rejection from 102.65 after US PMI data
FXStreet (San Francisco) - The US dollar is extending declines from daily highs at 102.65 against the Japanese yen following the weaker than expected US manufacturing PMI data.
The USD/JPY is trading now around 102.30, 35 pips lower than the daily high of 102.65 printed overnight. The pair lost all daily gains and now it's flat. Short term perspective is slightly bearish according to the FXStreet trend index. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
USD/JPY sentiment
If the pair consolidates a movement below the 20-hour MA at 102.35, it would face supports at 102.00 (low Mar.21), 101.30 (low Mar.19) and finally 101.20 (low Mar.3). On the upside, the next resistance is at 102.69 (high Mar.19) ahead of 102.86 (high Mar.13) and then 103.10 (high Mar.12).
The USD/JPY is trading now around 102.30, 35 pips lower than the daily high of 102.65 printed overnight. The pair lost all daily gains and now it's flat. Short term perspective is slightly bearish according to the FXStreet trend index. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
USD/JPY sentiment
If the pair consolidates a movement below the 20-hour MA at 102.35, it would face supports at 102.00 (low Mar.21), 101.30 (low Mar.19) and finally 101.20 (low Mar.3). On the upside, the next resistance is at 102.69 (high Mar.19) ahead of 102.86 (high Mar.13) and then 103.10 (high Mar.12).