15 Jul 2014
USD/JPY: more upside in store?
FXStreet (Moscow) - USD/JPY is trying to get above the interim resistance level of 101.60, though the bullish momentum is too weak.
Aimed at new ambitious targets?
The picture on USD/JPY daily charts are somewhat interesting as it looks like the pair has bottomed out at 101.25 support that has been tested more than twice since mid-May. It means that more extended upside might be in store for us with the initial bullish target at 102.00/102.20 followed by 102.70. From the fundamental point of view, BOJ monetary policy decision turned out to be a non-event, just as it was expected. Thus markets switch their attention to US retail sales data that may provide USD with a good bullish stimulus.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.50, with support below at 101.36, 101.18 and 101.04 with resistance above at 101.68, 101.82, and 101.99. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.70 and the daily 20EMA at 101.72. Hourly RSI is bullish at 69.
Aimed at new ambitious targets?
The picture on USD/JPY daily charts are somewhat interesting as it looks like the pair has bottomed out at 101.25 support that has been tested more than twice since mid-May. It means that more extended upside might be in store for us with the initial bullish target at 102.00/102.20 followed by 102.70. From the fundamental point of view, BOJ monetary policy decision turned out to be a non-event, just as it was expected. Thus markets switch their attention to US retail sales data that may provide USD with a good bullish stimulus.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.50, with support below at 101.36, 101.18 and 101.04 with resistance above at 101.68, 101.82, and 101.99. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.70 and the daily 20EMA at 101.72. Hourly RSI is bullish at 69.