25 Apr 2014
USD/JPY upside was short-lived, Asian lows of 102.18 in sight
FXStreet (Moscow) - USD/JPY is back to opening level at 102.31 after reaching Asian high at 102.49
Ukraine runs the market show
USD/JPY was on the retreat yesterday as Ukrainian crisis escalated and pumped up demand for safe-heaven assets. US macroeconomic data came out mixed as positive Durables report came in hand in hand with unexpectedly higher number of initial jobless claims, which put additional pressure on USD. Japanese CPI published earlier today, showed that inflation trend is not as strong as markets hoped. This news weakened JPY, though the downside momentum has faded away after unsuccessful attack at 102.45/50 resistance zone. Today’s calendar is nearly empty, so all eyes will be on geopolitical situation. Things are heating up, so we might see another rush to safety into the end of the week. The strong support is seen at 102.10 with fresh demand on approach, once this level is cleared out, 102.00 will be in sight. The first resistance comes at 102.50 and followed by 102.70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.35, with support below at 102.04, 101.77 and 101.46 with resistance above at 102.63, 102.93, and 103.21. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.30 and the daily 20EMA at 102.40. Hourly RSI is bearish at 47.
Ukraine runs the market show
USD/JPY was on the retreat yesterday as Ukrainian crisis escalated and pumped up demand for safe-heaven assets. US macroeconomic data came out mixed as positive Durables report came in hand in hand with unexpectedly higher number of initial jobless claims, which put additional pressure on USD. Japanese CPI published earlier today, showed that inflation trend is not as strong as markets hoped. This news weakened JPY, though the downside momentum has faded away after unsuccessful attack at 102.45/50 resistance zone. Today’s calendar is nearly empty, so all eyes will be on geopolitical situation. Things are heating up, so we might see another rush to safety into the end of the week. The strong support is seen at 102.10 with fresh demand on approach, once this level is cleared out, 102.00 will be in sight. The first resistance comes at 102.50 and followed by 102.70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.35, with support below at 102.04, 101.77 and 101.46 with resistance above at 102.63, 102.93, and 103.21. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.30 and the daily 20EMA at 102.40. Hourly RSI is bearish at 47.