Back
FXStreet (Moscow) - USD/JPY retraced from the Asian high at 103.92 and settled down at 103.84. The bulls are getting ready for a new assault
USD/JPY has good news for Japanese exporters
USD/JPY has been growing from 101.70 low reached on March 27. The pair is more than 200 pips higher now and there are no signs of bulls fatigue. The movement is caused by JPY weakness across the board, caused by Kuroda’s super-dovish stance coupled with positive stock market dynamics and improving risk sentiments. US ISM published yesterday, showed that American companies are really optimistic about the growth in the world’s biggest economy. This widened the rate expectation differential between Japan and USA and increased downside pressure on the Japanese currency. USD/JPY has stalled at 103.80 resistance, but the chances are that it will be broken and the pair accelerates to 104.00 were strong offers and stops are clustered. On the downside the first support comes at current Asian low of 103.61 and followed by Tuesday’s US session low of 103.30
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.49, with support below at 103.24, 102.84 and 102.60 with resistance above at 103.89, 104.13, and 104.53. Hourly Moving Averages are bullish, with the 200SMA at 102.56 and the daily 20EMA at 102.50. Hourly RSI is neutral at 72
2 Apr 2014
USD/JPY masters alpinism basics; 104.00 is within reach
FXStreet (Moscow) - USD/JPY retraced from the Asian high at 103.92 and settled down at 103.84. The bulls are getting ready for a new assault
USD/JPY has good news for Japanese exporters
USD/JPY has been growing from 101.70 low reached on March 27. The pair is more than 200 pips higher now and there are no signs of bulls fatigue. The movement is caused by JPY weakness across the board, caused by Kuroda’s super-dovish stance coupled with positive stock market dynamics and improving risk sentiments. US ISM published yesterday, showed that American companies are really optimistic about the growth in the world’s biggest economy. This widened the rate expectation differential between Japan and USA and increased downside pressure on the Japanese currency. USD/JPY has stalled at 103.80 resistance, but the chances are that it will be broken and the pair accelerates to 104.00 were strong offers and stops are clustered. On the downside the first support comes at current Asian low of 103.61 and followed by Tuesday’s US session low of 103.30
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.49, with support below at 103.24, 102.84 and 102.60 with resistance above at 103.89, 104.13, and 104.53. Hourly Moving Averages are bullish, with the 200SMA at 102.56 and the daily 20EMA at 102.50. Hourly RSI is neutral at 72