16 Jun 2014
USD/JPY is poking at 101.70 support
FXStreet (Moscow) - USD/JPY dipped to the initial support level of 101.70 after opening at 102.01 in Asia as JPY is in demand across the board on the back of weaker Japanese stock markets.
Magnetic 102.00 won’t let us go
On Friday, USD/JPY managed to recover nearly all losses incurred on Thursday, though this tardy positive dynamics did’t spare it form weekly losses. The pair finished week off the low of 101.60, and only marginally above the pivotal level of 102.00. The Japanese macroeconomic calendar is next to empty this week. We have nothing to fix eyes on until Friday when BoJ Governor Kuroda speaks at conference in Tokyo. As a result, USD/JPY is left at the mercy of USD factors and risk sentiments (the later tend to play bigger role lately). Technically, the pair needs to settle safely above 102.00 to get a chance for more pronounced rebound. The nearest resistance is seen at 102.20, while the support lies at 101.70 and followed by 101.50.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.94, with support below at 101.74, 101.45 and 101.24 with resistance above at 102.24, 102.44, and 102.73. Hourly Moving Averages are bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.10. Hourly RSI is bearish at 41.
Magnetic 102.00 won’t let us go
On Friday, USD/JPY managed to recover nearly all losses incurred on Thursday, though this tardy positive dynamics did’t spare it form weekly losses. The pair finished week off the low of 101.60, and only marginally above the pivotal level of 102.00. The Japanese macroeconomic calendar is next to empty this week. We have nothing to fix eyes on until Friday when BoJ Governor Kuroda speaks at conference in Tokyo. As a result, USD/JPY is left at the mercy of USD factors and risk sentiments (the later tend to play bigger role lately). Technically, the pair needs to settle safely above 102.00 to get a chance for more pronounced rebound. The nearest resistance is seen at 102.20, while the support lies at 101.70 and followed by 101.50.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.94, with support below at 101.74, 101.45 and 101.24 with resistance above at 102.24, 102.44, and 102.73. Hourly Moving Averages are bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.10. Hourly RSI is bearish at 41.