16 Apr 2014
USD/JPY rises above 102.00
FXStreet (Córdoba) - The USD/JPY rose above 102.00 reaching at 102.08, the strongest levels since April 10. The Nikkei 225 opened with important gains and after the first minutes is rising 1.60% as the Yen weakens across the board.
The Governor of the Bank of Japan, H. Kuroda recently said that the easing program is having the intended effect and that the inflation rate is headed toward the 2% goal. Regarding the economic outlook Kuroda took into account the volatility but affirmed that the recovery continues.
USD/JPY above 102.00
Price is consolidating above 102.00 after testing the mentioned area several times since the beginning of the week. According to Jim Langlands from FX Charts the USD/JPY could see sellers at 102.15. “ Above there would see an acceleration towards the daily cloud base, now at 102.35 (38.2% of 104.12/101.31)”. Langlands notes the if the pair continues to rise resistance levels lie at 102.70 and 102.95.
To the downside immediate support levels could be located at 101.80 and below here at 101.50 (April 15 low) and 101.30 (April 10, 11 low).
The Governor of the Bank of Japan, H. Kuroda recently said that the easing program is having the intended effect and that the inflation rate is headed toward the 2% goal. Regarding the economic outlook Kuroda took into account the volatility but affirmed that the recovery continues.
USD/JPY above 102.00
Price is consolidating above 102.00 after testing the mentioned area several times since the beginning of the week. According to Jim Langlands from FX Charts the USD/JPY could see sellers at 102.15. “ Above there would see an acceleration towards the daily cloud base, now at 102.35 (38.2% of 104.12/101.31)”. Langlands notes the if the pair continues to rise resistance levels lie at 102.70 and 102.95.
To the downside immediate support levels could be located at 101.80 and below here at 101.50 (April 15 low) and 101.30 (April 10, 11 low).