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22 May 2014
USD/JPY bulls cannot conquer 101.80 resistance
FXStreet (Moscow) - USD/JPY tested the area above 101.70. but failed to pass through strong offers clustered on approach to 101.80 and retreated to 101.56
USD/JPY may get some inspiration
The market has already digested the optimistic BOJ position, and now the focus may turn to the US data scheduled for release tonight. Unemployment Claims and Existing Home Sales may help the investors to update the picture of the economy state, as now we see the rising doubts about the strength of American recovery. Positive developments may become the needed catalyst for the pair rebound with initial target at 101.80 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.27, with support below at 100.91, 100.46 and 100.10 with resistance above at 101.72, 102.08, and 102.53. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.68 and the daily 20EMA at 101.92. Hourly RSI is bullish at 59
USD/JPY may get some inspiration
The market has already digested the optimistic BOJ position, and now the focus may turn to the US data scheduled for release tonight. Unemployment Claims and Existing Home Sales may help the investors to update the picture of the economy state, as now we see the rising doubts about the strength of American recovery. Positive developments may become the needed catalyst for the pair rebound with initial target at 101.80 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.27, with support below at 100.91, 100.46 and 100.10 with resistance above at 101.72, 102.08, and 102.53. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.68 and the daily 20EMA at 101.92. Hourly RSI is bullish at 59