25 Mar 2014
USD/JPY in highs near 102.50
FXStreet (Edinburgh) - The USD keeps pushing higher on Tuesday, now lifting the USD/JPY to print session highs just a few pips shy of 102.50.
USD/JPY bounces off 102.10
After dipping to the area of 102.10 pre-European open, the pair sparked a bull attempt supported by the better momentum around the greenback. There were no relevant data in Japan today, while US docket would have the potential to be a catalyst for the greenback: New Home Sales, Consumer Confidence and Home Prices tracked by the S&P/Case-Shiller index. According to Camilla Sutton, Chief FX Strategist at Scotiabank, the pair “has been range bound for two months and technicals continue to warn of a lack of momentum… However, on the long-term signals, the crossing of the 50-day MA below the 100-day MA is typically a bearish signal”.
USD/JPY significant levels
As of writing the pair is up 0.17% at 102.41 with the initial hurdle at 102.69 (high Mar.19) ahead of 102.86 (high Mar.13) and then 103.10 (high Mar.12). On the downside, a dip beyond 102.01 (low Mar.21) would aim for 101.30 (low Mar.19) and finally 101.20 (low Mar.3).
USD/JPY bounces off 102.10
After dipping to the area of 102.10 pre-European open, the pair sparked a bull attempt supported by the better momentum around the greenback. There were no relevant data in Japan today, while US docket would have the potential to be a catalyst for the greenback: New Home Sales, Consumer Confidence and Home Prices tracked by the S&P/Case-Shiller index. According to Camilla Sutton, Chief FX Strategist at Scotiabank, the pair “has been range bound for two months and technicals continue to warn of a lack of momentum… However, on the long-term signals, the crossing of the 50-day MA below the 100-day MA is typically a bearish signal”.
USD/JPY significant levels
As of writing the pair is up 0.17% at 102.41 with the initial hurdle at 102.69 (high Mar.19) ahead of 102.86 (high Mar.13) and then 103.10 (high Mar.12). On the downside, a dip beyond 102.01 (low Mar.21) would aim for 101.30 (low Mar.19) and finally 101.20 (low Mar.3).