24 Mar 2014
USD/JPY is around 102.50, and 102.70 is looming
FXstreet.com (Moscow) – USD/JPY started the day at 102.14 and since that time managed to move higher reaching 102.57 session high by the moment.
If the USA give the reason
USD/JPY had to move down from the session highs after the China data (HSBC flash manufacturing PMI) disappointment. Nevertheless, it still trades around 102.50, and may resume the rise. After a period of weakness, the pair found some strength and catalysts to resume the rise. Although the move higher may be limited during the nearest week due to repatriation flows supporting the demand on the Yen, any positive economic surprises from the US may still trigger a new wave on the pair with initial target at 102.71 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.26, with support below at 102.05, 101.80 and 101.59, with resistance above at 102.50, 102.71, and 102.96. Hourly Moving Averages are bullish, with the 200SMA at 102.10 and the daily 20EMA at 102.27. Hourly RSI is neutral at 57.
If the USA give the reason
USD/JPY had to move down from the session highs after the China data (HSBC flash manufacturing PMI) disappointment. Nevertheless, it still trades around 102.50, and may resume the rise. After a period of weakness, the pair found some strength and catalysts to resume the rise. Although the move higher may be limited during the nearest week due to repatriation flows supporting the demand on the Yen, any positive economic surprises from the US may still trigger a new wave on the pair with initial target at 102.71 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.26, with support below at 102.05, 101.80 and 101.59, with resistance above at 102.50, 102.71, and 102.96. Hourly Moving Averages are bullish, with the 200SMA at 102.10 and the daily 20EMA at 102.27. Hourly RSI is neutral at 57.