8 Apr 2014
USD/JPY lower again, 101.54 the low
FXStreet (Guatemala) - Currently, USD/JPY is trading at 101.64, down -1.39% on the day, having posted a daily high at 103.14 and low at 101.64.
The Risk sentiment is still struggling today and the BoJ left rates on hold overnight. Strategists at TD Securities explained that there is no real catalyst, “Just chatter of nervousness ahead of tonight’s start to the Q1 earnings season and continued apprehension around the situation in Ukraine”. On the back of that, there has been has been a steep sell-off in the USD.
The FXStreet OB/OS Index is reflecting extremely oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.
Daily RSI sits at 54.06, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 102.97, down from the last close at 103.18 and declining. Over the past 20 days, the exponential average closing price is 102.84, and trending higher.
USD/JPY Levels?
Current price is 101.66, with resistance ahead at 102.05 (Weekly Classic S2), 102.47 (Hourly 20 EMA), 102.51 (Daily Classic S3), 102.67(Weekly Classic S1) and 102.75 (Daily Classic S2). Next support to the downside can be found at 101.64 (Daily Low), 101.36 (Monthly Low), 101.31 (Weekly Classic S3), 101.00 (YTD Low) and100.78 (Daily 200 SMA).
The Risk sentiment is still struggling today and the BoJ left rates on hold overnight. Strategists at TD Securities explained that there is no real catalyst, “Just chatter of nervousness ahead of tonight’s start to the Q1 earnings season and continued apprehension around the situation in Ukraine”. On the back of that, there has been has been a steep sell-off in the USD.
The FXStreet OB/OS Index is reflecting extremely oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.
Daily RSI sits at 54.06, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 102.97, down from the last close at 103.18 and declining. Over the past 20 days, the exponential average closing price is 102.84, and trending higher.
USD/JPY Levels?
Current price is 101.66, with resistance ahead at 102.05 (Weekly Classic S2), 102.47 (Hourly 20 EMA), 102.51 (Daily Classic S3), 102.67(Weekly Classic S1) and 102.75 (Daily Classic S2). Next support to the downside can be found at 101.64 (Daily Low), 101.36 (Monthly Low), 101.31 (Weekly Classic S3), 101.00 (YTD Low) and100.78 (Daily 200 SMA).