11 Apr 2014
USD/JPY speeded up the rebound on Nikkei close
FXStreet (Moscow) - USD/JPY rebounded from 3-week low at 101.32, and posted session high at 101.86 by the moment.
US data is worth seeing
The Nikkei Stock Average has finished down 2.4%, closing at 13,960.05, and ending the worst week for Japanese equities since March 2011, when disaster in Fukushima occured. Probably, this fact fueled the long awaited rally of the pair. From 101.52 at the open the pair moved up and reached session high at 101.86. It looks like the Yen rally is coming to exhaustion, and although it is going to be hard to lure the pair bulls back, we still wait for some profit-taking before the weekend. The initial target for the pair to the upside may become the resistance level at 102.01.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.67, with support below at 101.19, 100.85 and 100.36 with resistance above at 102.01, 102.50, and 102.84. Hourly Moving Averages are mixed, with the 200SMA at 102.98 and the daily 20EMA at 102.55. Hourly RSI is bearish at 48.
US data is worth seeing
The Nikkei Stock Average has finished down 2.4%, closing at 13,960.05, and ending the worst week for Japanese equities since March 2011, when disaster in Fukushima occured. Probably, this fact fueled the long awaited rally of the pair. From 101.52 at the open the pair moved up and reached session high at 101.86. It looks like the Yen rally is coming to exhaustion, and although it is going to be hard to lure the pair bulls back, we still wait for some profit-taking before the weekend. The initial target for the pair to the upside may become the resistance level at 102.01.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.67, with support below at 101.19, 100.85 and 100.36 with resistance above at 102.01, 102.50, and 102.84. Hourly Moving Averages are mixed, with the 200SMA at 102.98 and the daily 20EMA at 102.55. Hourly RSI is bearish at 48.