25 Nov 2013
USD/JPY dropping from highs
FXstreet.com (London) - USD/JPY is dropping to a potential support line 101.35/40 where the less committee bulls might start thinking about cashing in.
Without there being much in the way of news, the market is positioning itself ahead of the BoJ minutes. Next up there after the minutes at the end f the week, as currency research team at BBH note, Japan will report a host of economic data. “Japan will report a host of economic data, including the November CPI reading (expected to tick up to 0.2% from flat on the core, which is the BOJ preferred measure). Despite widespread skepticism that the BOJ can achieve its 2% target, the BOJ does not seem to be in any hurry to provide more stimulus”.
USD/JPY Levels
The 20 DMA is 99.25, the 50 DMA is 98.57 and the 200 DMA is 98.08. RSI (14) 53.78. Supports are ascending from 100.39, 100.96, 101.14 and 101.36. Spot is 101.47 while resistances are 101.70, 102.00, 102.59, 103.00 and 103.57.
Without there being much in the way of news, the market is positioning itself ahead of the BoJ minutes. Next up there after the minutes at the end f the week, as currency research team at BBH note, Japan will report a host of economic data. “Japan will report a host of economic data, including the November CPI reading (expected to tick up to 0.2% from flat on the core, which is the BOJ preferred measure). Despite widespread skepticism that the BOJ can achieve its 2% target, the BOJ does not seem to be in any hurry to provide more stimulus”.
USD/JPY Levels
The 20 DMA is 99.25, the 50 DMA is 98.57 and the 200 DMA is 98.08. RSI (14) 53.78. Supports are ascending from 100.39, 100.96, 101.14 and 101.36. Spot is 101.47 while resistances are 101.70, 102.00, 102.59, 103.00 and 103.57.