26 Mar 2014
USD/JPY is still around 102.25
USD/JPY is still around 102.25
FXstreet.com (Moscow) – USD/JPY stays glued to 102.25 area trading at 102.31 at the moment.
The last weak of the Yen resilience
The absence of economic data may live the pair in consolidation mode. It’s almost a week USD/JPY stays within a quite narrow range of 102.00-102.60, though there have been enough catalysts to move on. It looks like the pair would rise if it were not for the base уen resilience. We already talked about repatriation flows supporting the Japanese currency in March, as large amounts of money denominated in currencies of those countries where the factories of the Japanese corporations are located, are flowing back to native country in accounting purposes during this period. The month is coming to an end, and the first week of April is usually accompanied with Yen sell-off, thus, the break out is looming.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.28, with support below at 102.06, 101.87 and 101.66, with resistance above at 102.47, 102.69, and 102.88. Hourly Moving Averages are largely flat, with the 200SMA at 101.99 and the daily 20EMA flat at 102.27. Hourly RSI is neutral at 50.
FXstreet.com (Moscow) – USD/JPY stays glued to 102.25 area trading at 102.31 at the moment.
The last weak of the Yen resilience
The absence of economic data may live the pair in consolidation mode. It’s almost a week USD/JPY stays within a quite narrow range of 102.00-102.60, though there have been enough catalysts to move on. It looks like the pair would rise if it were not for the base уen resilience. We already talked about repatriation flows supporting the Japanese currency in March, as large amounts of money denominated in currencies of those countries where the factories of the Japanese corporations are located, are flowing back to native country in accounting purposes during this period. The month is coming to an end, and the first week of April is usually accompanied with Yen sell-off, thus, the break out is looming.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.28, with support below at 102.06, 101.87 and 101.66, with resistance above at 102.47, 102.69, and 102.88. Hourly Moving Averages are largely flat, with the 200SMA at 101.99 and the daily 20EMA flat at 102.27. Hourly RSI is neutral at 50.