15 Apr 2014
USD/JPY: Sellers well camped ahead of 102.00
FXStreet (Bali) - USD/JPY is up 0.01% at the Tokyo open at 101.87, having made a daily high at 101.97 and low at 101.83.
How volatile has been?
The hourly USD/JPY chart is showing the 2-Standard Deviation Volatility Bandwidth is at 40 pips and shrinking, while the ATR (14) is currently at 8 pips. Daily 2-Standard Deviation Volatility Bandwidth is at 303 pips and expanding.
How it moves around this time?
The average movement for the current hour has been for 8 pips per hour, over the last four weeks, so we should not expect much movement around this time. The 200 SMA is currently at 101.64, down from 102.59 at the last period close, and declining on the hourly USD/JPY chart. Over the past 20 days, the exponential average closing price is 102.41, and trending lower.
What price levels and patterns have to be considered?
Spot is presently trading at 101.86, and next resistance can be seen at 101.97 (Daily High), 102.03 (Yesterday's High), 102.11 (Weekly Classic PP), 102.11 (Daily Classic R1) and 102.38 (Daily Classic R2). Next support to the downside can be found at 101.85 (Daily Open), 101.83 (Daily Low), 101.77 (Hourly 20 EMA), 101.76 (Daily Classic PP) and 101.74 (Hourly 100 SMA).
Technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart shows price now below its 100 SMA that maintains a strong bearish slope, while indicators aim lower in positive territory, showing neither much bearish strength. In the 4 hours chart indicators hold in neutral territory, yet as long as below the mentioned 102.00 mark, the downside remains favored towards a test of 101.20 price zone."
How volatile has been?
The hourly USD/JPY chart is showing the 2-Standard Deviation Volatility Bandwidth is at 40 pips and shrinking, while the ATR (14) is currently at 8 pips. Daily 2-Standard Deviation Volatility Bandwidth is at 303 pips and expanding.
How it moves around this time?
The average movement for the current hour has been for 8 pips per hour, over the last four weeks, so we should not expect much movement around this time. The 200 SMA is currently at 101.64, down from 102.59 at the last period close, and declining on the hourly USD/JPY chart. Over the past 20 days, the exponential average closing price is 102.41, and trending lower.
What price levels and patterns have to be considered?
Spot is presently trading at 101.86, and next resistance can be seen at 101.97 (Daily High), 102.03 (Yesterday's High), 102.11 (Weekly Classic PP), 102.11 (Daily Classic R1) and 102.38 (Daily Classic R2). Next support to the downside can be found at 101.85 (Daily Open), 101.83 (Daily Low), 101.77 (Hourly 20 EMA), 101.76 (Daily Classic PP) and 101.74 (Hourly 100 SMA).
Technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart shows price now below its 100 SMA that maintains a strong bearish slope, while indicators aim lower in positive territory, showing neither much bearish strength. In the 4 hours chart indicators hold in neutral territory, yet as long as below the mentioned 102.00 mark, the downside remains favored towards a test of 101.20 price zone."