15 Apr 2014
USD/JPY remains capped by 102.00
FXStreet (Córdoba) - The USD/JPY is extending its consolidative phase Tuesday having failed once again to break decisively above the 102.00 level during the Asian session.
The USD/JPY climbed to test the 102.00 psychological level but found sellers and pulled back to the 101.65 area before finding support. The pair lacks momentum and seems unable to set a fresh direction in the absence of catalysts. During the New York session, the US will release March CPI figures which could offer the pair some propulsion.
USD/JPY levels to watch
At time of writing, the USD/JPY is trading at the 101.85 zone, virtually unchanged on the day. If the USD/JPY clears the 102.00 area, next resistances could be found at 102.15 (Apr 9 high) and 102.44 (21-day SMA). On the other hand, supports are seen at 101.68 (Apr 15 low), 101.41 (Apr 14 low) and 101.32 (Apr 11 low).
The USD/JPY climbed to test the 102.00 psychological level but found sellers and pulled back to the 101.65 area before finding support. The pair lacks momentum and seems unable to set a fresh direction in the absence of catalysts. During the New York session, the US will release March CPI figures which could offer the pair some propulsion.
USD/JPY levels to watch
At time of writing, the USD/JPY is trading at the 101.85 zone, virtually unchanged on the day. If the USD/JPY clears the 102.00 area, next resistances could be found at 102.15 (Apr 9 high) and 102.44 (21-day SMA). On the other hand, supports are seen at 101.68 (Apr 15 low), 101.41 (Apr 14 low) and 101.32 (Apr 11 low).