21 Nov 2013
USD/JPY highest since July 10
FXstreet.com (London) - USD/JPY is testing the 101 level, trading at the highest level since July 10.
The BOJ left rates and policy unchanged and following a buoyant Nikkei once more, the USD/JPY has rallied again on leveraged demand taking out the September highs of 100.60. The next levels the bulls will be backing are 101.00/05 and 101.55, the July highs. Meanwhile, US Initial Jobless Claims improved (Nov) from 323k vs the 335k consensus. PPI came in line at 0.3% while PPI ex food and energy year on year was up slightly vs consensus at 1.4% vs 1.3%. The BoJ monthly survey is coming up tonight before a quiet looking close to the week.
USD/JPY Levels
The 20 DMA is 98.87, the 50 DMA is 98.51 ad the 200 DMA is 98.00. RSI (14) reads 71.38. Supports are ascending from 99.55, 99.77, 99.89, 100.26 and 100.40. Spot is currently 100.86 while resistances are 101.05, 101.30 and 101.54.
The BOJ left rates and policy unchanged and following a buoyant Nikkei once more, the USD/JPY has rallied again on leveraged demand taking out the September highs of 100.60. The next levels the bulls will be backing are 101.00/05 and 101.55, the July highs. Meanwhile, US Initial Jobless Claims improved (Nov) from 323k vs the 335k consensus. PPI came in line at 0.3% while PPI ex food and energy year on year was up slightly vs consensus at 1.4% vs 1.3%. The BoJ monthly survey is coming up tonight before a quiet looking close to the week.
USD/JPY Levels
The 20 DMA is 98.87, the 50 DMA is 98.51 ad the 200 DMA is 98.00. RSI (14) reads 71.38. Supports are ascending from 99.55, 99.77, 99.89, 100.26 and 100.40. Spot is currently 100.86 while resistances are 101.05, 101.30 and 101.54.