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16 Dec 2013
USD/JPY climbs off support at 1H 200 SMA
FXstreet.com (Barcelona) - USD/JPY posted an overnight high at 103.29, before declining to post a low at 102.64, before finding support at the hourly 200 SMA around 102.73 and climbing to where we are presently trading at 102.92.
USD/JPY follows Nikkei lower following Japanese and Chinese data
Yen strengthened overnight, with USD/JPY following in the Nikkei lower. Overnight we saw Tankan data which on average saw a decline on expectations. Further, Chinese HSBC Manufacturing PMI missed expectations, registering at 47.1 against 49.1, and 48.4 previous. USD/JPY’s decline found support at the hourly 200 SMA, and Peter Fell of FXBeat also adds that “Japanese importer demand is seen between 102.70 and 102.80.”
What are today’s key USD/JPY levels?
Today’s central pivot point can be found at 103.38, with support below at 102.8270 (S1), 102.4285 (S2) and 101.8720 (S3) and resistance above at 103.7820 (R1), 104.3385 (R2) and 104.7370 (R3). Matt Bacon-Hall of FXBeat sees resistance above at “103.50-60 Offers from prop accounts, & 103.00-10 Light prop offers”, and support below at “102.60-70 Light bids, & 102.50 Sell stops through to 102.20.” The range between 103.28-62 sees a cluster of technical levels which could provide resistance.
USD/JPY follows Nikkei lower following Japanese and Chinese data
Yen strengthened overnight, with USD/JPY following in the Nikkei lower. Overnight we saw Tankan data which on average saw a decline on expectations. Further, Chinese HSBC Manufacturing PMI missed expectations, registering at 47.1 against 49.1, and 48.4 previous. USD/JPY’s decline found support at the hourly 200 SMA, and Peter Fell of FXBeat also adds that “Japanese importer demand is seen between 102.70 and 102.80.”
What are today’s key USD/JPY levels?
Today’s central pivot point can be found at 103.38, with support below at 102.8270 (S1), 102.4285 (S2) and 101.8720 (S3) and resistance above at 103.7820 (R1), 104.3385 (R2) and 104.7370 (R3). Matt Bacon-Hall of FXBeat sees resistance above at “103.50-60 Offers from prop accounts, & 103.00-10 Light prop offers”, and support below at “102.60-70 Light bids, & 102.50 Sell stops through to 102.20.” The range between 103.28-62 sees a cluster of technical levels which could provide resistance.