14 Mar 2014
USD/JPY is not done with falling, though in rebound
FXstreet.com (Moscow) – USD/JPY is not over with downward move – it opened at 101.65 on Friday, and moved to 101.49 low though rebounding to 101.74.
It’s all about comments
Despite the attempts to go on with sliding down, the pair is not able to break below 101.50 at the moment, as large bids provide good support so far. USD/JPY is on the move down, and the growing Russian/Ukrainian tension will only exacerbate the slide before the weekend. Today it’s all about the official comments, but not data. Yesterday, we already heard the US State Secretary talking about ‘serious measures’, today we may hear something more ‘serious’. The less agreement between the West and Russia we see, the more chances to reach 101.29 support level with next target at 100.75 if the pair gathers momentum. The scheduled for release US consumer sentiment and PPI data will most probably be ignored.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.09, with support below at 101.29, 100.74 and 99.95, with resistance above at 102.64, 103.43, and 103.98. Hourly Moving Averages are bearish, with the 200SMA at 102.64 and the daily 20EMA at 102.50. Hourly RSI is neutral at 32.
It’s all about comments
Despite the attempts to go on with sliding down, the pair is not able to break below 101.50 at the moment, as large bids provide good support so far. USD/JPY is on the move down, and the growing Russian/Ukrainian tension will only exacerbate the slide before the weekend. Today it’s all about the official comments, but not data. Yesterday, we already heard the US State Secretary talking about ‘serious measures’, today we may hear something more ‘serious’. The less agreement between the West and Russia we see, the more chances to reach 101.29 support level with next target at 100.75 if the pair gathers momentum. The scheduled for release US consumer sentiment and PPI data will most probably be ignored.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.09, with support below at 101.29, 100.74 and 99.95, with resistance above at 102.64, 103.43, and 103.98. Hourly Moving Averages are bearish, with the 200SMA at 102.64 and the daily 20EMA at 102.50. Hourly RSI is neutral at 32.