5 Mar 2014
USD/JPY consolidates gains above 102.00
FXStreet (Córdoba) - The USD/JPY remains above 102.00 early in Asia, ahead of Nikkei’s opening, consolidating Tuesday’s gains. Yesterday the Yen weakened across the board pushing the USD/JPY to the upside: it finished with a gain of almost a hundred pips, the biggest daily increase since January 15.
Price peaked during the American session at 102.28 and pulled back afterwards, finding support quickly around 102.10 and currently is hovering around 102.22. Above 102.30, attention would turn to 102.70/80, the area where February highs lies.
Momentum remains bullish ahead of a busy day with important economic data that is likely to affect the USD/JPY. The calendar includes the release in the US of the ADP employment report and the Beige Book.
Price peaked during the American session at 102.28 and pulled back afterwards, finding support quickly around 102.10 and currently is hovering around 102.22. Above 102.30, attention would turn to 102.70/80, the area where February highs lies.
Momentum remains bullish ahead of a busy day with important economic data that is likely to affect the USD/JPY. The calendar includes the release in the US of the ADP employment report and the Beige Book.