30 Apr 2014
USD/JPY came closer to 102.50 resistance
FXStreet (Moscow) - USD/JPY posted 102.28 low in the morning, but soon rebounded to 102.50 area trading somewhere around at the moment.
USD/JPY is bound for a rebound
The recent downgrade of the Japanese GDP from 1.4% to 1.1% in 2014 pressured the currency slightly, but the rebound was soon to come. USD/JPY is doomed to show breakouts today, given the ample economic calendar from the USA. As the FOMC meeting is most probably will be a non-event, the market may focus its attention on the ADP employment data and Q1 GDP numbers. We need to see positive surprises from both sides in order to get strong breakout of 102.50 area with next target at 103.00 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.63, with support below at 102.47, 102.31 and 102.15 with resistance above at 102.80, 102.96, and 103.12. Hourly Moving Averages are mixed, with the 200SMA at 102.44 and the daily 20EMA at 102.42. Hourly RSI is bearish at 49.
USD/JPY is bound for a rebound
The recent downgrade of the Japanese GDP from 1.4% to 1.1% in 2014 pressured the currency slightly, but the rebound was soon to come. USD/JPY is doomed to show breakouts today, given the ample economic calendar from the USA. As the FOMC meeting is most probably will be a non-event, the market may focus its attention on the ADP employment data and Q1 GDP numbers. We need to see positive surprises from both sides in order to get strong breakout of 102.50 area with next target at 103.00 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.63, with support below at 102.47, 102.31 and 102.15 with resistance above at 102.80, 102.96, and 103.12. Hourly Moving Averages are mixed, with the 200SMA at 102.44 and the daily 20EMA at 102.42. Hourly RSI is bearish at 49.