27 Mar 2014
USD/JPY losing the 102 handle testing lower
FXStreet (Guatemala) - USD/JPY has been testing the downside on the 102 handle on the session and is now making an attempt through 101.90/80.
USD/JPY currently trades 101.90 post the fix and data releases in respect of investment flows in bonds and stocks for Japan. We are also approaching a time when things might heat up in respect to repatriation flows linked to the Japanese fiscal year end which may also be serving up some supply around the desks in Asia morning. However, Kit Juckes, Societe Generale, Global Head of Currency Strategy, said, “The final week of the fiscal year sees little fresh news and little reason for the yen to move far, but the pressure on the BOJ to ease further to counteract the effects of the consumption tax increase, already growing, will be irresistible if there is any sign that the tax is affecting spending”.
USD/JPY Levels
The 20 DMA is 102.27, the 50 DMA is 102.51 and the 200 DMA is 100.50. RSI (14) reads 38.62. Supports are ascending from 101.69 and 101.89. Spot is 101.90 while resistances are 102.00, 102.10, 102.49, 102.69, 102.86 and 103.43.
USD/JPY currently trades 101.90 post the fix and data releases in respect of investment flows in bonds and stocks for Japan. We are also approaching a time when things might heat up in respect to repatriation flows linked to the Japanese fiscal year end which may also be serving up some supply around the desks in Asia morning. However, Kit Juckes, Societe Generale, Global Head of Currency Strategy, said, “The final week of the fiscal year sees little fresh news and little reason for the yen to move far, but the pressure on the BOJ to ease further to counteract the effects of the consumption tax increase, already growing, will be irresistible if there is any sign that the tax is affecting spending”.
USD/JPY Levels
The 20 DMA is 102.27, the 50 DMA is 102.51 and the 200 DMA is 100.50. RSI (14) reads 38.62. Supports are ascending from 101.69 and 101.89. Spot is 101.90 while resistances are 102.00, 102.10, 102.49, 102.69, 102.86 and 103.43.