8 May 2014
USD/JPY is still below 102.00
FXStreet (Moscow) - USD/JPY opened the day at 101.89, reached session high at 101.95, but retreated to 101.70 area by the moment.
How to get out of range?
The pair is bound to stay in ranges given the lack of economic catalysts in store. The USD lost its popularity due to the broad market belief that the FED is unlikely to change anything in the monetary policy stance. Thus, even the scheduled for release today US Initial Claims data has little chance to take the pair out of the range. Only significantly stronger data may help the USD break above 102.00 with the next target at 102.52.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.80, with support below at 101.39, 101.09 and 100.68 with resistance above at 102.10, 102.52, and 102.82. Hourly Moving Averages are bearish, with the 200SMA at 102.24 and the daily 20EMA at 102.29. Hourly RSI is bearish at 37.
How to get out of range?
The pair is bound to stay in ranges given the lack of economic catalysts in store. The USD lost its popularity due to the broad market belief that the FED is unlikely to change anything in the monetary policy stance. Thus, even the scheduled for release today US Initial Claims data has little chance to take the pair out of the range. Only significantly stronger data may help the USD break above 102.00 with the next target at 102.52.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.80, with support below at 101.39, 101.09 and 100.68 with resistance above at 102.10, 102.52, and 102.82. Hourly Moving Averages are bearish, with the 200SMA at 102.24 and the daily 20EMA at 102.29. Hourly RSI is bearish at 37.