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30 May 2014
USD/JPY bears stopped at 101.50 support
FXStreet (Moscow) - USD/JPY started the day at 101.75 and touched the low at 101.48, but 101.50 support area turned out to be too strong for the bears; Currently the pair is trading at 101.58
JPY bulls are unstoppable
Japanese stock market is in deep decline as investors grieve over disappointing industrial production and household spending data and scale back their BOJ easing expectations. No wonder that USD/JPY is depressed. The pair aims at yesterday lows of 101.42 and has a good chance to finish the week in red after a feeble rebound. From the technical point of view, the strong intraday demand is seen at 101.40 and followed by bids on approach to 101.05/00, though these later levels will be hard to reach unless US published horrible data today. The initial resistance is seen at 101.80. This level is likely to stop the bullish profit taking ahead of the weekend.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.70, with support below at 101.51, 101.23 and 101.04 with resistance above at 101.99, 102.18, and 102.46. Hourly Moving Averages are bearish, with the 200SMA at 101.67 and the daily 20EMA at 101.87. Hourly RSI is bearish at 37
JPY bulls are unstoppable
Japanese stock market is in deep decline as investors grieve over disappointing industrial production and household spending data and scale back their BOJ easing expectations. No wonder that USD/JPY is depressed. The pair aims at yesterday lows of 101.42 and has a good chance to finish the week in red after a feeble rebound. From the technical point of view, the strong intraday demand is seen at 101.40 and followed by bids on approach to 101.05/00, though these later levels will be hard to reach unless US published horrible data today. The initial resistance is seen at 101.80. This level is likely to stop the bullish profit taking ahead of the weekend.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.70, with support below at 101.51, 101.23 and 101.04 with resistance above at 101.99, 102.18, and 102.46. Hourly Moving Averages are bearish, with the 200SMA at 101.67 and the daily 20EMA at 101.87. Hourly RSI is bearish at 37