9 Jun 2014
USD/JPY slid to 102.40 area just to rebound
FXStreet (Moscow) - USD/JPY opened the day at 102.49, reached 102.64 high, and made a U-turn sliding to 102.37 session low, and recovering above 102.40 by the moment.
A little bit is not enough!
USD/JPY has practically ignored the Non-Farm Payrolls data released last Friday, although the numbers came out slightly better than expected, and showed quite strong pace of recovery in the labor market. However, the key factor now is not the strength of the data, but the rate it exceeds expectations. The investors didn’t find anything in the employment numbers that might convince the FED to change its mind on the pace of tapering. Thus, the move lower again is not ruled out with initial target at 102.18 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.40, with support below at 102.18, 101.89 and 101.66 with resistance above at 102.70, 102.92, and 103.22. Hourly Moving Averages are bearish, with the 200SMA at 102.16 and the daily 20EMA at 102.11. Hourly RSI is bearish at 66.
A little bit is not enough!
USD/JPY has practically ignored the Non-Farm Payrolls data released last Friday, although the numbers came out slightly better than expected, and showed quite strong pace of recovery in the labor market. However, the key factor now is not the strength of the data, but the rate it exceeds expectations. The investors didn’t find anything in the employment numbers that might convince the FED to change its mind on the pace of tapering. Thus, the move lower again is not ruled out with initial target at 102.18 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.40, with support below at 102.18, 101.89 and 101.66 with resistance above at 102.70, 102.92, and 103.22. Hourly Moving Averages are bearish, with the 200SMA at 102.16 and the daily 20EMA at 102.11. Hourly RSI is bearish at 66.