27 May 2014
USD/JPY recovers beyond 101.90
FXStreet (Edinburgh) - The USD/JPY is now extending its intraday recovery, regaining the 101.90 level after dropping to fresh lows near 101.70.
USD/JPY still capped by 102.00
The recent recovery from lows near 100.80 seems to have stalled in the vicinity of 102.00 the figure, despite the recent albeit mild ‘verbal intervention’ by BoJ’s Kuroda. Data-wise, inflation figures in the Japanese economy will grab all the attention on Thursday as well as the revised US GDP Annualized. “Despite waning upward momentum, the USD up-move appears incomplete. Expect 101.70 to hold any pullback for a drift higher towards 102.10/15”, observed Quek Ser Leang, Market Strategist at UOB Group.
USD/JPY levels to consider
The pair is now losing 0.01% at 101.90 with the immediate support at 101.59 (low May 23) ahead of 101.47 (low May 22) and finally 100.81 (low May 21). On the flip side, a breakout of 102.05 (high May 26) would open the door to 102.13 (high May 15) and then 102.28 (high May 14).
USD/JPY still capped by 102.00
The recent recovery from lows near 100.80 seems to have stalled in the vicinity of 102.00 the figure, despite the recent albeit mild ‘verbal intervention’ by BoJ’s Kuroda. Data-wise, inflation figures in the Japanese economy will grab all the attention on Thursday as well as the revised US GDP Annualized. “Despite waning upward momentum, the USD up-move appears incomplete. Expect 101.70 to hold any pullback for a drift higher towards 102.10/15”, observed Quek Ser Leang, Market Strategist at UOB Group.
USD/JPY levels to consider
The pair is now losing 0.01% at 101.90 with the immediate support at 101.59 (low May 23) ahead of 101.47 (low May 22) and finally 100.81 (low May 21). On the flip side, a breakout of 102.05 (high May 26) would open the door to 102.13 (high May 15) and then 102.28 (high May 14).