Back
24 Feb 2014
USD/JPY attacks the support of 102.30
FXStreet (Moscow) - USD/JPY is trying to take out the support level of 102.30 driven by the mixture of anti-risk sentiment caused by weak stock market opening and technical factors; current Asian low is 102.28
USD/JPY needs new triggers
USD/JPY poked at 102.80 resistance zone, but bumped at fresh buying interest and retraced to 102.50. In general, the currency pair had a positive week, but the long term bulls need to get the pair well above 103.00 to seize the control over the situation. Monday is likely to be dominated by technical factors there are no interesting events with good market moving potential. European session will bring us Eurozone CPI numbers, so USD/JPY may feel the knock-on effects in case of strong EUR movements. The bears should keep an eye at 102.30-20 area (21-day MA) , as they need to get it out of the way before they have another try at 102.00 strengthened by fresh demand and stops. On the upside the first resistance is seen at 102.50 and followed by102.70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.55, with support below at 102.26, 101.97 and 101.68, with resistance above at 102.85, 103.14, and 103.43. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.21 and the daily 20EMA at 102.44. Hourly RSI is neutral at 51.
USD/JPY needs new triggers
USD/JPY poked at 102.80 resistance zone, but bumped at fresh buying interest and retraced to 102.50. In general, the currency pair had a positive week, but the long term bulls need to get the pair well above 103.00 to seize the control over the situation. Monday is likely to be dominated by technical factors there are no interesting events with good market moving potential. European session will bring us Eurozone CPI numbers, so USD/JPY may feel the knock-on effects in case of strong EUR movements. The bears should keep an eye at 102.30-20 area (21-day MA) , as they need to get it out of the way before they have another try at 102.00 strengthened by fresh demand and stops. On the upside the first resistance is seen at 102.50 and followed by102.70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.55, with support below at 102.26, 101.97 and 101.68, with resistance above at 102.85, 103.14, and 103.43. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.21 and the daily 20EMA at 102.44. Hourly RSI is neutral at 51.