6 May 2014
USD/JPY is testing 102.00 support, and may succeed
FXStreet (Moscow) - USD/JPY retreats from Asian high at 102.14 posting session low at 101.96, and rebounding to 102.00 at the moment.
Monday reincarnation
The absolutely boring Monday may reincarnate into boring Tuesday, as there is lack of economic data again, and Japan is closed for holidays again. The only hope is for US session where we will get US Trade data. The readings are of interest because of potential revisions to 1Q GDP which proved to be worse than expected during the last revision. If here we get disappointment again, it may fuel the fears of even slower growth in the first quarter of the year, thus, pressuring the pair down with initial target at 101.67 when 102.00 is broken.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.09, with support below at 101.91, 101.67 and 100.49 with resistance above at 102.32, 102.50, and 102.74. Hourly Moving Averages are bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.35. Hourly RSI is bearish at 40.
Monday reincarnation
The absolutely boring Monday may reincarnate into boring Tuesday, as there is lack of economic data again, and Japan is closed for holidays again. The only hope is for US session where we will get US Trade data. The readings are of interest because of potential revisions to 1Q GDP which proved to be worse than expected during the last revision. If here we get disappointment again, it may fuel the fears of even slower growth in the first quarter of the year, thus, pressuring the pair down with initial target at 101.67 when 102.00 is broken.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.09, with support below at 101.91, 101.67 and 100.49 with resistance above at 102.32, 102.50, and 102.74. Hourly Moving Averages are bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.35. Hourly RSI is bearish at 40.