24 Jul 2014
USD/JPY is trying to gain downside momentum
FXStreet (Moscow) - USD/JPY has died somewhere at 101.50 after moving within 10-pip range in Asia
Come on, move!
Markets mostly ignored the trade numbers from Japan that came out worse than expected, suggesting that Japanese officials might be out expressing their displeasure with the JPY exchange rate. Obviously, none really thinks they will dare to intervene. Not this time. That’s why JPY traders only yawed at it, while Japanese stock induced even climbed a little. China published better than expected flash PMI data for July, which has been supportive for risk sentiments across the board. Later during the day we have US initial jobless claims and new home sales, though these reports will hardly be able to knock USD/JPY out of its range limited by 101.70/80 on the upside and 101.20 on the downside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.45, with support below at 101.35, 101.21 and 101.10 with resistance above at 101.59, 101.70, and 101.84. Hourly Moving Averages are mixed, with the 200SMA bullish at 101.47 and the daily 20EMA bearish at 101.58. Hourly RSI is bullish at 59.
Come on, move!
Markets mostly ignored the trade numbers from Japan that came out worse than expected, suggesting that Japanese officials might be out expressing their displeasure with the JPY exchange rate. Obviously, none really thinks they will dare to intervene. Not this time. That’s why JPY traders only yawed at it, while Japanese stock induced even climbed a little. China published better than expected flash PMI data for July, which has been supportive for risk sentiments across the board. Later during the day we have US initial jobless claims and new home sales, though these reports will hardly be able to knock USD/JPY out of its range limited by 101.70/80 on the upside and 101.20 on the downside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.45, with support below at 101.35, 101.21 and 101.10 with resistance above at 101.59, 101.70, and 101.84. Hourly Moving Averages are mixed, with the 200SMA bullish at 101.47 and the daily 20EMA bearish at 101.58. Hourly RSI is bullish at 59.