15 Apr 2014
USD/JPY aims to regain ground; 102.00 in sight
FXStreet (Moscow) - USD/JPY took off from the Asian lows of 101.76 and car close to the bespoke resistance of 102.00
Hints from Jannet
Although US Retail Sales did prove to be better than expected, the gain was not so impressive, and triggered only mild short-term reaction. Besides, the escalating tensions in the south-eastern Ukraine fueled risk aversion flows that prevented the pair from the full-blown rally. Today is a new day, and new food for thoughts. The USA will release CPI data, and if the numbers won’t be impressive again, the focus may turn to Jannet Yellen speech. Given her recent comments on rate increase timing, the investors will try to find any additional confirmation that she didn’t change her mind, and if they succeed we may see additional demand on USD. The initial target in this case is at 102.00 resistance level followed by 102.20.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.76, with support below at 101.50, 101.15 and 100.88 with resistance above at 102.11, 102.38, and 102.73. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.56 and the daily 20EMA at 102.41. Hourly RSI is bullish at 59.
Hints from Jannet
Although US Retail Sales did prove to be better than expected, the gain was not so impressive, and triggered only mild short-term reaction. Besides, the escalating tensions in the south-eastern Ukraine fueled risk aversion flows that prevented the pair from the full-blown rally. Today is a new day, and new food for thoughts. The USA will release CPI data, and if the numbers won’t be impressive again, the focus may turn to Jannet Yellen speech. Given her recent comments on rate increase timing, the investors will try to find any additional confirmation that she didn’t change her mind, and if they succeed we may see additional demand on USD. The initial target in this case is at 102.00 resistance level followed by 102.20.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.76, with support below at 101.50, 101.15 and 100.88 with resistance above at 102.11, 102.38, and 102.73. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.56 and the daily 20EMA at 102.41. Hourly RSI is bullish at 59.