24 Jan 2014
USD/JPY risk off and an on track Japanese economy
FXstreet.com (Guatemala) - USD/JPY is again the defensive against another heavy set of supply from below 103, through supports in Europe with selling interest and free falling at 102.60 to bounce on 102 the handle.
The pair then met further supply on the bounce between 102.60/70 and is again attempting the downside. With risk aversion and US yields likely to remain the theme, markets also favouring the Yen on comments from BoJ’s Kuroda suggesting that the economy will continue to grow.
USD/JPY Levels
The 20 DMA is 104.47, the 50 DMA is 103.21 and the 200 DMA is 99.91. RSI (14) reads 49.72. Spot is 102.23. Resistances are 102.40, 102.68, 102.85, 102.97, 103.24, 103.58, 103.87, 104.15, 104.44.
The pair then met further supply on the bounce between 102.60/70 and is again attempting the downside. With risk aversion and US yields likely to remain the theme, markets also favouring the Yen on comments from BoJ’s Kuroda suggesting that the economy will continue to grow.
USD/JPY Levels
The 20 DMA is 104.47, the 50 DMA is 103.21 and the 200 DMA is 99.91. RSI (14) reads 49.72. Spot is 102.23. Resistances are 102.40, 102.68, 102.85, 102.97, 103.24, 103.58, 103.87, 104.15, 104.44.