14 May 2014
USD/JPY strongly positioned above 102
FXStreet (Moscow) - USD/JPY opened the day at 102.27, reached session low at 102.11, and is trading somewhere around at the moment.
USD is not for sale
Despite the depressing US Retail Sales the pair managed to stay above 102.00, and this is another reason to wait for another surge higher with initial target at 102.41 resistance level. The scheduled for release American PPI data is of interest today as an indication of price pressure at producer level, and if the reading comes above expectations it may become the needed catalyst for the USD. Up till the release the pair may get some support from the positive moves of the stock markets.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.23, with support below at 102.08, 101.91 and 101.76 with resistance above at 102.41, 102.56, and 102.73. Hourly Moving Averages are mixed, with the 200SMA at 101.97 and the daily 20EMA at 102.17. Hourly RSI is bearish at 46.
USD is not for sale
Despite the depressing US Retail Sales the pair managed to stay above 102.00, and this is another reason to wait for another surge higher with initial target at 102.41 resistance level. The scheduled for release American PPI data is of interest today as an indication of price pressure at producer level, and if the reading comes above expectations it may become the needed catalyst for the USD. Up till the release the pair may get some support from the positive moves of the stock markets.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.23, with support below at 102.08, 101.91 and 101.76 with resistance above at 102.41, 102.56, and 102.73. Hourly Moving Averages are mixed, with the 200SMA at 101.97 and the daily 20EMA at 102.17. Hourly RSI is bearish at 46.