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28 Feb 2014
USD/JPY bounced-off the Asian lows to 101.70
FXstreet.com (Moscow) – After failed attempt to go below 101.55 in the morning USD/JPY rebounded trading around 101.70 at the moment.
USD/JPY may resume the slide
It was a hectic Asian session with Nikkei closing down by -0.55% at 14,841.07, and yen strengthening to 101.55. USD/JPY tumbled on better than expected Japan data, which reduced the chances the BOJ might be close to further easing actions. Despite the current rebound, the pair is vulnerable for further losses in American session given the looming US GDP report that could be revised down. The negative factors in form of weak retail sales and larger trade deficit in December, 2013 may cut a big chunk from the last quarter growth. In such case the pair may resume the slide with initial target at 101.36 support level, if 101.50 is broken.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.10, with support below at 101.74, 101.36 and 101.00, with resistance above at 102.48, 102.84, and 103.22. Hourly Moving Averages are bearish, with the 200SMA at 102.28 and the daily 20EMA at 102.38. Hourly RSI is neutral at 39.
USD/JPY may resume the slide
It was a hectic Asian session with Nikkei closing down by -0.55% at 14,841.07, and yen strengthening to 101.55. USD/JPY tumbled on better than expected Japan data, which reduced the chances the BOJ might be close to further easing actions. Despite the current rebound, the pair is vulnerable for further losses in American session given the looming US GDP report that could be revised down. The negative factors in form of weak retail sales and larger trade deficit in December, 2013 may cut a big chunk from the last quarter growth. In such case the pair may resume the slide with initial target at 101.36 support level, if 101.50 is broken.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.10, with support below at 101.74, 101.36 and 101.00, with resistance above at 102.48, 102.84, and 103.22. Hourly Moving Averages are bearish, with the 200SMA at 102.28 and the daily 20EMA at 102.38. Hourly RSI is neutral at 39.