7 May 2014
USD/JPY is strongly settled below 102.00
FXStreet (Moscow) - USD/JPY retreats from Asian high at 101.67 posting session low at 101.42, and rebounding to 101.55 at the moment.
Nobody likes Dollar
Since we’ve got another reason to sell USD yesterday, when worse than expected Trade Data supported the possibility the US Q1 GDP could be negative, no wonder the market focus today on Fed Chairman Yellen testimony. During a speech at the Joint Economic Committee (JEC) she may confirm the presence on slack in economy. And this will be just enough to encourage traders to sell USD even more. However, if Jannet keeps silence, it may revive the interest to the USD, and the pair may return to initial resistance at 101.80 followed by 102.10.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.80, with support below at 101.39, 101.09 and 100.68 with resistance above at 102.10, 102.52, and 102.82. Hourly Moving Averages are bearish, with the 200SMA at 102.24 and the daily 20EMA at 102.29. Hourly RSI is bearish at 37.
Nobody likes Dollar
Since we’ve got another reason to sell USD yesterday, when worse than expected Trade Data supported the possibility the US Q1 GDP could be negative, no wonder the market focus today on Fed Chairman Yellen testimony. During a speech at the Joint Economic Committee (JEC) she may confirm the presence on slack in economy. And this will be just enough to encourage traders to sell USD even more. However, if Jannet keeps silence, it may revive the interest to the USD, and the pair may return to initial resistance at 101.80 followed by 102.10.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.80, with support below at 101.39, 101.09 and 100.68 with resistance above at 102.10, 102.52, and 102.82. Hourly Moving Averages are bearish, with the 200SMA at 102.24 and the daily 20EMA at 102.29. Hourly RSI is bearish at 37.