28 Apr 2014
USD/JPY climber above 102.20
FXStreet (Moscow) - USD/JPY rebounded from 102.04 low in the morning reaching 102.26 session high by the moment.
The BOJ may give a hint
The USD is clearly on the rise from Monday open, strengthening in most majors. The pair totally ignored the positive Japanese Retail Sales, and moved higher above 102.20 area. The coming week has a bunch of market movers from different parts of the world. Japan will have the BOJ monetary meeting on April, 30. Although no changes in policy stance is expected, we still may see something interesting in its latest Outlook report. Any downward revisions of the inflation and GDP forecasts may trigger the Yen sell-off on the back of more stimulus from the BOJ expectations. Thus, the recovery of the pair is not ruled out with initial target at 102.48 resistance level, followed by 102.77.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.22, with support below at 101.93, 101.66 and 101.37 with resistance above at 102.48, 102.77, and 103.04. Hourly Moving Averages are bearish, with the 200SMA at 102.34 and the daily 20EMA at 102.38. Hourly RSI is bearish at 42.
The BOJ may give a hint
The USD is clearly on the rise from Monday open, strengthening in most majors. The pair totally ignored the positive Japanese Retail Sales, and moved higher above 102.20 area. The coming week has a bunch of market movers from different parts of the world. Japan will have the BOJ monetary meeting on April, 30. Although no changes in policy stance is expected, we still may see something interesting in its latest Outlook report. Any downward revisions of the inflation and GDP forecasts may trigger the Yen sell-off on the back of more stimulus from the BOJ expectations. Thus, the recovery of the pair is not ruled out with initial target at 102.48 resistance level, followed by 102.77.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.22, with support below at 101.93, 101.66 and 101.37 with resistance above at 102.48, 102.77, and 103.04. Hourly Moving Averages are bearish, with the 200SMA at 102.34 and the daily 20EMA at 102.38. Hourly RSI is bearish at 42.