3 Dec 2013
USD/JPY dropping a big figure
FXstreet.com (London) - USD/JPY has failed in the 103 handle and has dropped a big figure, supported at 102.40.
Meanwhile, there are a number of factors for the Yen which are keeping it overall on the back foot overall. Lee Hardman, strategist at the Bank of Tokyo-Mitsubishi UFJ, Ltd said Yen weakness overall has also accelerated following the release yesterday of a report from Reuters stating that the BoJ is working on contingency plans for further economic stimulus according to officials briefed on the process.
USD/JPY Levels
The 20 DMA is 100.39, the 50 DMA is 98.96 and the 200 DMA is 98.35. RSI (14) reads 30.75. Supports are ascending from 102.12, 102.22, Spot is 102.46 currently while resistances are 102.60, 102.83,103.35,103.57,103.74, 104.04 and 104.58.
Meanwhile, there are a number of factors for the Yen which are keeping it overall on the back foot overall. Lee Hardman, strategist at the Bank of Tokyo-Mitsubishi UFJ, Ltd said Yen weakness overall has also accelerated following the release yesterday of a report from Reuters stating that the BoJ is working on contingency plans for further economic stimulus according to officials briefed on the process.
USD/JPY Levels
The 20 DMA is 100.39, the 50 DMA is 98.96 and the 200 DMA is 98.35. RSI (14) reads 30.75. Supports are ascending from 102.12, 102.22, Spot is 102.46 currently while resistances are 102.60, 102.83,103.35,103.57,103.74, 104.04 and 104.58.