5 May 2014
USD/JPY settled below 102.00; bears are in control
FXStreet (Moscow) - USD/JPY dropped below the key support of 102.00, let’s hope 101.85 pivot is strong enough to withstand the bearish attacks
Scared traders buy JPY
USD/JPY is on the retread as market exodus from risk assets on the back of heightened geopolitical risks and outright civil war in Ukraine scared investors. The pair dropped below the key support of 102.00, which is technically negative. If the strong demand with stops seen at 101.85 gives way under the bearish pressure, 101.50 and 101.33 levels will come into sight. Japanese markets are still closed, as a result market movements are exaggerated by thin liquidity. During European hours JPY buying pressure may increase was new geopolitical news will start to pour in and the chances are that things will get from bad to worse. The pair need to get back above 102.00 to strengthen the bullish case.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.47, with support below at 101.87, 101.55 and 100.97 with resistance above at 102.77, 103.35, and 103.67. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.37 and the daily 20EMA at 102.37. Hourly RSI is bearish at 28
Scared traders buy JPY
USD/JPY is on the retread as market exodus from risk assets on the back of heightened geopolitical risks and outright civil war in Ukraine scared investors. The pair dropped below the key support of 102.00, which is technically negative. If the strong demand with stops seen at 101.85 gives way under the bearish pressure, 101.50 and 101.33 levels will come into sight. Japanese markets are still closed, as a result market movements are exaggerated by thin liquidity. During European hours JPY buying pressure may increase was new geopolitical news will start to pour in and the chances are that things will get from bad to worse. The pair need to get back above 102.00 to strengthen the bullish case.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.47, with support below at 101.87, 101.55 and 100.97 with resistance above at 102.77, 103.35, and 103.67. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.37 and the daily 20EMA at 102.37. Hourly RSI is bearish at 28