12 Dec 2013
USD/JPY seesaws higher into European session
FXstreet.com (Barcelona) - A choppy start to the trading day for USD/JPY has seen spot climb off opening lows at 102.41, to peak overnight at 102.75, retracing to find support at 102.47, then climbing to post a morning high at 102.85, just above where spot is presently trading at 102.81, up 0.38% on the day.
USD/JPY choppy as Nikkei closes lower
The main event overnight was the RBNZ decision to hold rates at 2.5%. However in Japan, an improvement was seen in Foreign investment in Japanese bonds, but also a decline in foreign investment in Japanese equities. Matt Bacon-Hall of FXBeat noted that Japan’s ruling LDP Tax Panel Chief Noda spoke to raise his plan to reduce tax revenue by 740bln Yen in year one. The Nikkei 255 closed overnight at 15,341.82, down -1.12%.
What are today’s key USD/JPY levels?
Hourly RSI sits at 58 and rising, with stochastics in overbought territory at 75, and ADX ay 30.8. The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are neutral and slightly bullish respectively. Today’s pivot point sits at 102.50, with resistance above at 102.8652 (R1), 103.3178 (R2) and 103.6757 (R3), and support below at 102.0547 (S1), 101.6968 (S2) and 101.2442 (S3). Matt Bacon-Hall of FXBeat sees resistance ahead at “104.10 Buy stops commence, 103.80-00 Japanese exporter and option related offers, 103.40 Buy stops commence, & 102.90-00 Exporter offers”, and support below at “101.90-10 Small bids, 101.70 Sell stops commence, & 101.00-20 Real money bids.”
USD/JPY choppy as Nikkei closes lower
The main event overnight was the RBNZ decision to hold rates at 2.5%. However in Japan, an improvement was seen in Foreign investment in Japanese bonds, but also a decline in foreign investment in Japanese equities. Matt Bacon-Hall of FXBeat noted that Japan’s ruling LDP Tax Panel Chief Noda spoke to raise his plan to reduce tax revenue by 740bln Yen in year one. The Nikkei 255 closed overnight at 15,341.82, down -1.12%.
What are today’s key USD/JPY levels?
Hourly RSI sits at 58 and rising, with stochastics in overbought territory at 75, and ADX ay 30.8. The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are neutral and slightly bullish respectively. Today’s pivot point sits at 102.50, with resistance above at 102.8652 (R1), 103.3178 (R2) and 103.6757 (R3), and support below at 102.0547 (S1), 101.6968 (S2) and 101.2442 (S3). Matt Bacon-Hall of FXBeat sees resistance ahead at “104.10 Buy stops commence, 103.80-00 Japanese exporter and option related offers, 103.40 Buy stops commence, & 102.90-00 Exporter offers”, and support below at “101.90-10 Small bids, 101.70 Sell stops commence, & 101.00-20 Real money bids.”