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11 Jun 2014
USD/JPY consolidates losses around 102.30 support
FXStreet (Moscow) - USD/JPY bears tried to drive the pair lower; Having started the day at 102.31 it dipped to its current low of 102.24, but quickly returned to the opening level.
102.00 is the aim
USD/JPY has been dancing around 102.00 level for quite a long period of time now as regular waves of anti-risk sentiments and speculations about less dovish BoJ are counterbalanced by uncertain domestic economic conditions, where improvement in 1Q is attributed to higher consumer spending ahead of sales tax raise. On the intraday basis USD/JPY might continue to move down on technical factors, though the bears might find 102.00 support too difficult to clear out right away. The upside correction is likely to be limited by 102.50/70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.32, with support below at 102.17, 102.00 and 101.79 with resistance above at 102.56, 102.77, and 102.94. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.17. Hourly RSI is bearish at 40.
102.00 is the aim
USD/JPY has been dancing around 102.00 level for quite a long period of time now as regular waves of anti-risk sentiments and speculations about less dovish BoJ are counterbalanced by uncertain domestic economic conditions, where improvement in 1Q is attributed to higher consumer spending ahead of sales tax raise. On the intraday basis USD/JPY might continue to move down on technical factors, though the bears might find 102.00 support too difficult to clear out right away. The upside correction is likely to be limited by 102.50/70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.32, with support below at 102.17, 102.00 and 101.79 with resistance above at 102.56, 102.77, and 102.94. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.17. Hourly RSI is bearish at 40.