11 Apr 2014
USD/JPY has come close to 101.60/70 resistance zone
FXStreet (Moscow) - USD/JPY came close to the resistance area of 101.60/70 after opening at 101.42
Invisible hand of BOJ?
USD/JPY had another bearish day on Thursday as the pair dropped to new monthly lows at 101.31 and closed at 101.42 on the back of general US Dollar weakness and strong anti-risk sentiments. Though USD/JPY seems to be in demand early on Friday as the pair is enjoying the upside correction. Bank of Japan is rumored to intervene to weaken Yen as stock market bearish dynamics and overall anti-risk sentiments do not support JPY selling strategy. Later during the day the USD might be supported by positive University of Michigan consumer sentiments report and further profit-taking on short USD/JPY positions ahead of the weekend
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.67, with support below at 101.19, 100.85 and 100.36 with resistance above at 102.01, 102.50, and 102.84. Hourly Moving Averages are mixed, with the 200SMA at 102.98 and the daily 20EMA at 102.55. Hourly RSI is bearish at 48.
Invisible hand of BOJ?
USD/JPY had another bearish day on Thursday as the pair dropped to new monthly lows at 101.31 and closed at 101.42 on the back of general US Dollar weakness and strong anti-risk sentiments. Though USD/JPY seems to be in demand early on Friday as the pair is enjoying the upside correction. Bank of Japan is rumored to intervene to weaken Yen as stock market bearish dynamics and overall anti-risk sentiments do not support JPY selling strategy. Later during the day the USD might be supported by positive University of Michigan consumer sentiments report and further profit-taking on short USD/JPY positions ahead of the weekend
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.67, with support below at 101.19, 100.85 and 100.36 with resistance above at 102.01, 102.50, and 102.84. Hourly Moving Averages are mixed, with the 200SMA at 102.98 and the daily 20EMA at 102.55. Hourly RSI is bearish at 48.