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4 Mar 2014
USD/JPY is poking at 101.60 resistance
FXStreet (Moscow) - USD/JPY moved higher as the market opened on Tuesday. The pair is currently testing the short-term resistance level at 101.60, the upside is still dominant.
Will JPY eventually catch this geopolitical virus?
On Monday USD/JPY touched the the low at 101.19, but did not dare to move closer to the bespoke support of 101.00. JPY was bought as a safe-heaven currency, but the demand was not as strong as it might have been. The key Asian risk event - the RBA monetary policy decision - is behind us, so now USD/JPY is a pure technical and geopolitical play, though the downside may be limited by the US Dollar strength across the board on the back of EM turmoil. The USA publishes a bunch of second-tire reports that are likely pass unnoticed. Keep an eye at Asian low at 101.40 followed by the area of strong demand at 101.26 on the downside, and 102.00 with offers on approach on the upside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.43, with support below at 101.16, 100.92 and 100.64, with resistance above at 101.67, 101.94, and 102.18. Hourly Moving Averages are mixed, with the 200SMA at 102.14 and the daily 20EMA at 102.24. Hourly RSI is neutral at 60.
Will JPY eventually catch this geopolitical virus?
On Monday USD/JPY touched the the low at 101.19, but did not dare to move closer to the bespoke support of 101.00. JPY was bought as a safe-heaven currency, but the demand was not as strong as it might have been. The key Asian risk event - the RBA monetary policy decision - is behind us, so now USD/JPY is a pure technical and geopolitical play, though the downside may be limited by the US Dollar strength across the board on the back of EM turmoil. The USA publishes a bunch of second-tire reports that are likely pass unnoticed. Keep an eye at Asian low at 101.40 followed by the area of strong demand at 101.26 on the downside, and 102.00 with offers on approach on the upside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.43, with support below at 101.16, 100.92 and 100.64, with resistance above at 101.67, 101.94, and 102.18. Hourly Moving Averages are mixed, with the 200SMA at 102.14 and the daily 20EMA at 102.24. Hourly RSI is neutral at 60.