23 Apr 2014
USD/JPY stuck around 102.50
FXStreet (Moscow) - USD/JPY started the day at 102.60, and since that moment was busy testing 102.50/40 support area.
Do you believe in USD?
Although this week is not that interesting from the point of the scheduled US data, and we even won’t hear anybody speaking on monetary policy or economy outlook, the investors still believe in USD, and gradually load their portfolios with longs. The released yesterday existing home sales proved to be better than expected, and today’s new home sales may confirms the further recovery in the US housing market. Thus, we don’t rule out another wave of demand on the pair with initial target at 102.77 resistance level soon.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.59, with support below at 102.43, 102.25 and 102.10 with resistance above at 102.77, 102.92, and 103.10. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.12 and the daily 20EMA at 102.38. Hourly RSI is bearish at 48.
Do you believe in USD?
Although this week is not that interesting from the point of the scheduled US data, and we even won’t hear anybody speaking on monetary policy or economy outlook, the investors still believe in USD, and gradually load their portfolios with longs. The released yesterday existing home sales proved to be better than expected, and today’s new home sales may confirms the further recovery in the US housing market. Thus, we don’t rule out another wave of demand on the pair with initial target at 102.77 resistance level soon.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.59, with support below at 102.43, 102.25 and 102.10 with resistance above at 102.77, 102.92, and 103.10. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.12 and the daily 20EMA at 102.38. Hourly RSI is bearish at 48.