7 May 2014
USD/JPY rejected by 102.00; back to 101.50
FXStreet (San Francisco) - The USD/JPY's recovery from 101.40 traded overnight was capped bu the 102.00 area in the latest few minutes with the pair pricing back at 101.75.
The pair could be shaken by the Fed's Yellen comments on accommodative policy. She commented that the reasons for first quarter slowdown were transitory and she expects that 2014 growth will be faster than 2013.
Overall, Yellen affirmed that the high degree of accommodation remains warranted.
Currently, USD/JPY is trading at 101.74, down -0.06% on the day, having posted a daily high at 102.02 and low at 101.43. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/JPY levels
A dip beyond 101.32 (low Apr.11) would expose 101.20 (low Mar.3) and 101.06 (200-d MA). On the upside, resistances are seen at 102.00, 102.19 (high May 6) and then 102.26 (high May 5).
The pair could be shaken by the Fed's Yellen comments on accommodative policy. She commented that the reasons for first quarter slowdown were transitory and she expects that 2014 growth will be faster than 2013.
Overall, Yellen affirmed that the high degree of accommodation remains warranted.
Currently, USD/JPY is trading at 101.74, down -0.06% on the day, having posted a daily high at 102.02 and low at 101.43. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/JPY levels
A dip beyond 101.32 (low Apr.11) would expose 101.20 (low Mar.3) and 101.06 (200-d MA). On the upside, resistances are seen at 102.00, 102.19 (high May 6) and then 102.26 (high May 5).