18 Jul 2014
USD/JPY claws back lost ground
FXStreet (Moscow) - USD/JPY recovered to 101.30 after touching the Asian low at 101.09 amid safe-heaven rush
Come what may
USD/JPY crashed to 101.20 on Thursday and finished the day with 50-pips loss. The bears stepped in and grabbed the control over the situation as the tragical issue with downing of a Malaysian passenger jet that resulted in the death of 295 people on board triggered massive exodus from risk assets right into safe-heavens.Later during the day USD/JPY is likely to consolidate with downside bias until more grave news from Ukraine hit the wires. The upside correction from the Asian lows is likely to be limited by 101.50, though if this resistance is taken out, the pair may continue climbing to 101.70. The initial strong support is seen at 101.10/00 area, where strong bids are clustered.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.34, with support below at 100.97, 100.77 and 100.40 with resistance above at 101.55, 101.92, and 102.12. Hourly Moving Averages are mixed, with the 200SMA at 101.54 and the daily 20EMA at 101.86. Hourly RSI is bearish at 46.
Come what may
USD/JPY crashed to 101.20 on Thursday and finished the day with 50-pips loss. The bears stepped in and grabbed the control over the situation as the tragical issue with downing of a Malaysian passenger jet that resulted in the death of 295 people on board triggered massive exodus from risk assets right into safe-heavens.Later during the day USD/JPY is likely to consolidate with downside bias until more grave news from Ukraine hit the wires. The upside correction from the Asian lows is likely to be limited by 101.50, though if this resistance is taken out, the pair may continue climbing to 101.70. The initial strong support is seen at 101.10/00 area, where strong bids are clustered.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.34, with support below at 100.97, 100.77 and 100.40 with resistance above at 101.55, 101.92, and 102.12. Hourly Moving Averages are mixed, with the 200SMA at 101.54 and the daily 20EMA at 101.86. Hourly RSI is bearish at 46.