25 Mar 2014
USD/JPY wants to be strong again
FXStreet (Moscow) - USD/JPY is trying to stage the upside correction early on Tuesday as the pair opened at 102.17 and reached the current levels of 102.30.
USD/JPY is waiting for US data
USD/JPY tried to recover yesterday but failed to go anywhere higher that 102.64 and retraced to 102.17. No interesting news are expected to be published in Japan until Friday, so the USD/JPY sentiments will be dominated by geopolitical factors and US macro statistics. During the European session USD/JPY may come under pressure if there are new signs of Russian-Ukrainian conflict escalation, though the bears might pause at the support of 102.00 as the US data calendar is packed with risk events today. We are waiting for Conference Board consumer confidence and new home sales reports that have a good market moving potential. Better than expected data will trigger the USD upside correction. Once the above said support is broken, the downside will accelerate to 101.70. The nearest resistance is seen at 102.60/70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.33, with support below at 102.00, 101.77 and 101.44, with resistance above at 102.57, 102.90, and 103.13. Hourly Moving Averages are bullish, with the 200SMA at 102.03 and the daily 20EMA at 102.26. Hourly RSI is neutral at 52.
USD/JPY is waiting for US data
USD/JPY tried to recover yesterday but failed to go anywhere higher that 102.64 and retraced to 102.17. No interesting news are expected to be published in Japan until Friday, so the USD/JPY sentiments will be dominated by geopolitical factors and US macro statistics. During the European session USD/JPY may come under pressure if there are new signs of Russian-Ukrainian conflict escalation, though the bears might pause at the support of 102.00 as the US data calendar is packed with risk events today. We are waiting for Conference Board consumer confidence and new home sales reports that have a good market moving potential. Better than expected data will trigger the USD upside correction. Once the above said support is broken, the downside will accelerate to 101.70. The nearest resistance is seen at 102.60/70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.33, with support below at 102.00, 101.77 and 101.44, with resistance above at 102.57, 102.90, and 103.13. Hourly Moving Averages are bullish, with the 200SMA at 102.03 and the daily 20EMA at 102.26. Hourly RSI is neutral at 52.