14 Apr 2014
USD/JPY speeded up the rebound on Nikkei close
FXStreet (Moscow) - USD/JPY rebounded from session low at 101.41, and came back to 101.60 by the moment.
When the buck comes back…
The pair is having hard time recovering back to 1-week old levels, although almost every piece of data out of the USA released recently supported the positive economic outlook. There may be different reasons of such unpopularity of the USD, and one of them maybe the lack of first-tier data able to trigger more impressive moves in the market. Nevertheless, this week promises to be much more interesting, as retail sales and inflation data are scheduled for release. However, the expectations for the outcome are quite high, and the market will need to see really good consumer demand, in order to start buying dollars again. If so, wait for the move up to initial target at 101.88 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.60, with support below at 101.32, 101.04 and 100.76 with resistance above at 101.88, 102.16, and 102.44. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.81 and the daily 20EMA at 102.46. Hourly RSI is bearish at 49.
When the buck comes back…
The pair is having hard time recovering back to 1-week old levels, although almost every piece of data out of the USA released recently supported the positive economic outlook. There may be different reasons of such unpopularity of the USD, and one of them maybe the lack of first-tier data able to trigger more impressive moves in the market. Nevertheless, this week promises to be much more interesting, as retail sales and inflation data are scheduled for release. However, the expectations for the outcome are quite high, and the market will need to see really good consumer demand, in order to start buying dollars again. If so, wait for the move up to initial target at 101.88 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.60, with support below at 101.32, 101.04 and 100.76 with resistance above at 101.88, 102.16, and 102.44. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.81 and the daily 20EMA at 102.46. Hourly RSI is bearish at 49.