4 Mar 2014
USD/JPY almost there; 102 psychological level
FXStreet (Guatemala) - News that Russian President Putin has recalled some troops back to their bases is seen as a conciliatory gesture; risk seeing a bounce and USD/JPY rallies despite a softer dollar else where. USD/JPY has been grinding higher on 101 and is looking to reclaim the 102 psychological handle again.
USD/JPY also rides the poor data from Japan where wage earnings fell 0.2% in January, the first decline in three months. Anlaysts at Brown Brothers Harriman noted that the December increase was revised to 0.5% from 0.8% initially. “The limited wage increases remain one of the key shortcomings thus far of Abenomics. That said, base wages, the important measure of recurring income, rose 0.2%, the first increase in almost two year. This is with unemployment tending lower to sit at six month lows”.
USD/JPY Levels
The 20 DMA is 102.13, the 50 DMA is 103.21 and the 200 DMA is 100.18. RSI (14) reads 63.89. Supports are ascending from 100.76, 101.07, 101.20 and 101.40. Spot is 101.93 with resistances at 102.00, 102.15 and 102.30.
USD/JPY also rides the poor data from Japan where wage earnings fell 0.2% in January, the first decline in three months. Anlaysts at Brown Brothers Harriman noted that the December increase was revised to 0.5% from 0.8% initially. “The limited wage increases remain one of the key shortcomings thus far of Abenomics. That said, base wages, the important measure of recurring income, rose 0.2%, the first increase in almost two year. This is with unemployment tending lower to sit at six month lows”.
USD/JPY Levels
The 20 DMA is 102.13, the 50 DMA is 103.21 and the 200 DMA is 100.18. RSI (14) reads 63.89. Supports are ascending from 100.76, 101.07, 101.20 and 101.40. Spot is 101.93 with resistances at 102.00, 102.15 and 102.30.