1 May 2014
USD/JPY paused around 102.20 awaiting US data
FXStreet (Moscow) - USD/JPY opened the day at 102.22 low, and though made some attempts to edge lower, still trades somewhere around at the moment.
USD/JPY still has hopes
The US GDP data definitely disappointed the pair, as the quarter growth showed poor 0.1% instead of 1.2% expected. It brought the USD back to 102.00 area again, and now everything will depend on the market sentiment, and US data. Today we will get the last but not the least reports that may help to predict the direction of the Non-Farm Payrolls. Pay special attention to 4-week moving average of jobless claims, and employment component of Manufacturing ISM. Although the data not so tightly correlated with the Friday report, it still may help to see the direction. Positive reading may help the pair to resume the rise with initial target at 102.60 resistance.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.31, with support below at 101.96, 101.67 and 101.32 with resistance above at 102.60, 102.96, and 103.25. Hourly Moving Averages are bearish, with the 200SMA at 102.43 and the daily 20EMA at 102.44. Hourly RSI is bearish at 44.
USD/JPY still has hopes
The US GDP data definitely disappointed the pair, as the quarter growth showed poor 0.1% instead of 1.2% expected. It brought the USD back to 102.00 area again, and now everything will depend on the market sentiment, and US data. Today we will get the last but not the least reports that may help to predict the direction of the Non-Farm Payrolls. Pay special attention to 4-week moving average of jobless claims, and employment component of Manufacturing ISM. Although the data not so tightly correlated with the Friday report, it still may help to see the direction. Positive reading may help the pair to resume the rise with initial target at 102.60 resistance.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.31, with support below at 101.96, 101.67 and 101.32 with resistance above at 102.60, 102.96, and 103.25. Hourly Moving Averages are bearish, with the 200SMA at 102.43 and the daily 20EMA at 102.44. Hourly RSI is bearish at 44.