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21 Feb 2014
USD/JPY is coming closer to 102.50 area
FXstreet.com (Moscow) – USD/JPY is on the move higher reaching 102.49 session high from 102.26 in the morning.
USD/JPY gets no peace from the US
The yen continued to lose ground in the morning, with USD/JPY approaching 102.50, and trading not far from it at the moment. The Nikkei closed up +2.88% at 14,865.67, and it also fueled the drift higher. Nevertheless, the risk aversion on global markets continues to dominate the pair moves, and economic data unfortunately is not able to eliminate fears. Yesterday the US CPI numbers and Unemployment claims came out in line with expectations, but today’s Existing Home Sales may again bring some disappointments, as bad weather had negative impact both on construction works, and consumer demand. If the market sees something of that kind again, it may drop the pair to 102.13 support line.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.13, with support below at 101.83, 101.37 and 101.07, with resistance above at 102.60, 102.90, and 103.36. Hourly Moving Averages are bullish, with the 200SMA at 102.18 and the daily 20EMA at 102.43. Hourly RSI is neutral at 62.
USD/JPY gets no peace from the US
The yen continued to lose ground in the morning, with USD/JPY approaching 102.50, and trading not far from it at the moment. The Nikkei closed up +2.88% at 14,865.67, and it also fueled the drift higher. Nevertheless, the risk aversion on global markets continues to dominate the pair moves, and economic data unfortunately is not able to eliminate fears. Yesterday the US CPI numbers and Unemployment claims came out in line with expectations, but today’s Existing Home Sales may again bring some disappointments, as bad weather had negative impact both on construction works, and consumer demand. If the market sees something of that kind again, it may drop the pair to 102.13 support line.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.13, with support below at 101.83, 101.37 and 101.07, with resistance above at 102.60, 102.90, and 103.36. Hourly Moving Averages are bullish, with the 200SMA at 102.18 and the daily 20EMA at 102.43. Hourly RSI is neutral at 62.