24 Jan 2014
USD/JPY suffering on continued risk aversion
FXstreet.com (Guatemala) - USD/JPY is on the defensive against a heavy set of supply over the course of the past few sessions, instigated when the pair was above 104.80, suffering on continued risk aversion.
USD/JPY has been drifting steadily away from the 103 handle and is testing 103.40’s in the absence of further stimulus. The pair is bid ahead of the Tokyo fix, but risk aversion and US yields are likely to remain the theme, especially after the poor Chinese data that came yesterday in the form of PMI.
USD/JPY Levels
The 20 DMA is 104.52, the 50 DMA is 103.13 and the 200 DMA is 99.89. RSI (14) reads 49.72. Spot is 103.37. Key resistances are ascending from 103.45, 103.85, 103.97, 104.22, 104.31, 104.63,104.84,104.92 and 105.50.
USD/JPY has been drifting steadily away from the 103 handle and is testing 103.40’s in the absence of further stimulus. The pair is bid ahead of the Tokyo fix, but risk aversion and US yields are likely to remain the theme, especially after the poor Chinese data that came yesterday in the form of PMI.
USD/JPY Levels
The 20 DMA is 104.52, the 50 DMA is 103.13 and the 200 DMA is 99.89. RSI (14) reads 49.72. Spot is 103.37. Key resistances are ascending from 103.45, 103.85, 103.97, 104.22, 104.31, 104.63,104.84,104.92 and 105.50.