21 Mar 2014
USD/JPY is drifting lower in a quiet Asian session
FXStreet (Moscow) - USD/JPY has drifted lower to the current Asian lows at 102.30 and rebounded to the current level of 102.33; the downside bias prevails.
USD/JPY is a technical play today
USD/JPY was not much of a mover on Thursday as the pair drifted to the intraday lows at 102.20 and closed the day at 102.44. The weak correction after an impressive bullish movement on Wednesday may signal that the bulls are now a tad stronger and USD/JPY may consolidate its gains above 102.00 ahead of the end of the week. The Asian session is rather quiet today as the Japanese markets are closed for Vernal Equinox Day. Watch for geopolitical developments as they have a good potential to become key market drivers today. Speculative flows and traditional Friday positioning will also contribute to USD/JPY dynamics today. From the technical point of view, the nearest short-term support comes at 102.00. If it is broken, the downside will accelerate to 101.70. The resistance is seen at 102.65-70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.10, with support below at 101.00, 100.70 and 100.10, with resistance above at 102.44, 102.80, and 103.00.
USD/JPY is a technical play today
USD/JPY was not much of a mover on Thursday as the pair drifted to the intraday lows at 102.20 and closed the day at 102.44. The weak correction after an impressive bullish movement on Wednesday may signal that the bulls are now a tad stronger and USD/JPY may consolidate its gains above 102.00 ahead of the end of the week. The Asian session is rather quiet today as the Japanese markets are closed for Vernal Equinox Day. Watch for geopolitical developments as they have a good potential to become key market drivers today. Speculative flows and traditional Friday positioning will also contribute to USD/JPY dynamics today. From the technical point of view, the nearest short-term support comes at 102.00. If it is broken, the downside will accelerate to 101.70. The resistance is seen at 102.65-70.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.10, with support below at 101.00, 100.70 and 100.10, with resistance above at 102.44, 102.80, and 103.00.