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13 Mar 2014
USD/JPY was the calmest of all
FXstreet.com (Moscow) – USD/JPY traded at 102.65 area in the morning, but posted 102.49 session low at Europe open.
Retail sales may be surprising
USD/JPY traded with a stone face at 102.65 area in the morning watching the broad based USD sell-off without a flicker of an eyelash. Nevertheless, it rushed to 102.49 low at the moment, and may continue going lower. Today we will get the key event of this week short of market-moving releases. The retail sales numbers may bring some unexpected surprises. Many traders hope for better than expected data given the recent positive surprises from the Non-Farm Payroll report. The more jobs in the economy the more income the Americans have, and the more desire to spend. Nevertheless, the February data, as we know, was distorted by bad weather factor, thus the negative surprises are not ruled out. The downside is limited by 102.22 support level, whereas the upside brings resistance at 102.49.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.80, with support below at 102.49, 102.22 and 101.90, with resistance above at 103.07, 103.39, and 103.66. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.55 and the daily 20EMA at 102.57. Hourly RSI is neutral at 41.
Retail sales may be surprising
USD/JPY traded with a stone face at 102.65 area in the morning watching the broad based USD sell-off without a flicker of an eyelash. Nevertheless, it rushed to 102.49 low at the moment, and may continue going lower. Today we will get the key event of this week short of market-moving releases. The retail sales numbers may bring some unexpected surprises. Many traders hope for better than expected data given the recent positive surprises from the Non-Farm Payroll report. The more jobs in the economy the more income the Americans have, and the more desire to spend. Nevertheless, the February data, as we know, was distorted by bad weather factor, thus the negative surprises are not ruled out. The downside is limited by 102.22 support level, whereas the upside brings resistance at 102.49.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.80, with support below at 102.49, 102.22 and 101.90, with resistance above at 103.07, 103.39, and 103.66. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.55 and the daily 20EMA at 102.57. Hourly RSI is neutral at 41.