28 May 2014
USD/JPY bears are desperate to break below 101.80
FXStreet (Moscow) - USD/JPY is on retreat as the pair started Wednesday at 101.99 and slid to current lows of 101.87
Going around in circles
USD/JPY flirts with 102.00 pivot. The macroeconomic calendar was dull at the start of the week, which left the pair consolidating within a narrow range. It seems that BOJ additional easing is a done deal already, so the JPY bulls have a hard time pushing the currency higher. Slightly better risk sentiment is another factor that put the lid on JPY demand. From the technical point of view, the bearish sentiment dominate as long as the pair trades below 102.00; we need to see a clear break above 55-day MA at 102.20 to get a chance for more pronounced upside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.95, with support below at 101.75, 101.51 and 101.31 with resistance above at 102.19, 102.39, and 102.63. Hourly Moving Averages are mixed, with the 200SMA at 101.61 and the daily 20EMA at 101.88. Hourly RSI is bearish at 42
Going around in circles
USD/JPY flirts with 102.00 pivot. The macroeconomic calendar was dull at the start of the week, which left the pair consolidating within a narrow range. It seems that BOJ additional easing is a done deal already, so the JPY bulls have a hard time pushing the currency higher. Slightly better risk sentiment is another factor that put the lid on JPY demand. From the technical point of view, the bearish sentiment dominate as long as the pair trades below 102.00; we need to see a clear break above 55-day MA at 102.20 to get a chance for more pronounced upside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.95, with support below at 101.75, 101.51 and 101.31 with resistance above at 102.19, 102.39, and 102.63. Hourly Moving Averages are mixed, with the 200SMA at 101.61 and the daily 20EMA at 101.88. Hourly RSI is bearish at 42