23 May 2014
USD/JPY is struggling on approach to 101.80 resistance
FXStreet (Moscow) - USD/JPY has stuck at 101.75, unable to go past strong resistance of 101.80 ahead of the weekend packed with major risk events
USD/JPY may focus on housing
The pair is still unable to climb above 102.00, although the US numbers are painting the picture of quite stable recovery. The housing market is gradually attracting more popularity among the investors, as the indicator of broad consumption. The pace of growth of New Home Sales has been slowing down from last October. If scheduled for today report disappoints again, it may be another reason to sell USD, with the pair moving back to 101.50 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.63, with support below at 101.43, 101.13 and 100.93 with resistance above at 101.94, 102.14, and 102.44. Hourly Moving Averages are bullish, with the 200SMA at 101.65 and the daily 20EMA at 101.85. Hourly RSI is bullish at 62
USD/JPY may focus on housing
The pair is still unable to climb above 102.00, although the US numbers are painting the picture of quite stable recovery. The housing market is gradually attracting more popularity among the investors, as the indicator of broad consumption. The pace of growth of New Home Sales has been slowing down from last October. If scheduled for today report disappoints again, it may be another reason to sell USD, with the pair moving back to 101.50 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.63, with support below at 101.43, 101.13 and 100.93 with resistance above at 101.94, 102.14, and 102.44. Hourly Moving Averages are bullish, with the 200SMA at 101.65 and the daily 20EMA at 101.85. Hourly RSI is bullish at 62