18 Feb 2014
USD/JPY took several barriers on the way up
FXstreet.com (Moscow) – USD/JPY goes on with the move up breaking several resistance levels and posting February high at 102.74, though now we see retracement to 102.60 area.
USD/JPY stays tuned for market sentiment
The BOJ meeting has finally attracted market attention, and actually some investors waited for more stimulus from the Japanese regulator with consumption tax hike looming, and disappointing GDP growth. The central bank chose to support the national economy through special lending programs extension, which triggered the stock market rally, and was followed by the yen falling. The pair reached February high at 102.74, and is ready to go higher. Nikkei 225 closed up 3.13% at 14,843.24. Since there are no key releases scheduled for today, the pair will again depend on market sentiment. The upside brings resistance level at 103.30/40 area not seen from the late January. The downside is limited by 102.39 former resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.77, with support below at 101.55, 101.15 and 100.93, with resistance above at 102.17, 102.39, and 102.79. Hourly Moving Averages are mixed, with the 200SMA at 102.05 and the daily 20EMA at 102.48. Hourly RSI is neutral at 54.
USD/JPY stays tuned for market sentiment
The BOJ meeting has finally attracted market attention, and actually some investors waited for more stimulus from the Japanese regulator with consumption tax hike looming, and disappointing GDP growth. The central bank chose to support the national economy through special lending programs extension, which triggered the stock market rally, and was followed by the yen falling. The pair reached February high at 102.74, and is ready to go higher. Nikkei 225 closed up 3.13% at 14,843.24. Since there are no key releases scheduled for today, the pair will again depend on market sentiment. The upside brings resistance level at 103.30/40 area not seen from the late January. The downside is limited by 102.39 former resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.77, with support below at 101.55, 101.15 and 100.93, with resistance above at 102.17, 102.39, and 102.79. Hourly Moving Averages are mixed, with the 200SMA at 102.05 and the daily 20EMA at 102.48. Hourly RSI is neutral at 54.