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30 May 2014
A sell-me-not USD/JPY
FXStreet (Moscow) - USD/JPY opened the day at 101.77, rushed to 101.49 in the morning, but rebounded to 101.65 by the moment.
Hope is the last to die
The pair is still on the way down getting support from the falling yields both of European and American government bonds. So far, this is the main theme on the market given the absence of key economic releases. Today Japan has already released a series of data on inflation, industrial production and labor market. Now the attention of the market turns to American releases with PCE, Chicago PMI, and Reuters/Michigan Consumer Sentiment Index. The pair needs to get really strong readings in order to recover all the recent losses. The initial target on the way up may become 101.99 resistance level.
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.
Hope is the last to die
The pair is still on the way down getting support from the falling yields both of European and American government bonds. So far, this is the main theme on the market given the absence of key economic releases. Today Japan has already released a series of data on inflation, industrial production and labor market. Now the attention of the market turns to American releases with PCE, Chicago PMI, and Reuters/Michigan Consumer Sentiment Index. The pair needs to get really strong readings in order to recover all the recent losses. The initial target on the way up may become 101.99 resistance level.
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.