9 Jul 2014
USD/JPY moves resembled Brazil-Germany game
FXStreet (Moscow) - USD/JPY recovered from 101.44 low posted in Asian session, trading around 102.70 area at the moment.
It’s not a soccer
The yesterday’s shocking sell-off in the pair resembled the shocking Brazil-Germany soccer game, however, there is one difference – USD/JPY may change the game already today. The US treasuries yield keeps falling, and keeps pressuring the pair. However, the FOMC meeting minutes may bring some support to the USD in case the monetary authorities will be more optimistic on economic outlook, and more aggressive on the rates. In this case we may see the come back to 102.09 area.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.66, with support below at 101.40, 101.23 and 100.97 with resistance above at 101.83, 102.09, and 102.26. Hourly Moving Averages are mixed, with the 200SMA at 101.70 and the daily 20EMA at 101.86. Hourly RSI is bearish at 49.
It’s not a soccer
The yesterday’s shocking sell-off in the pair resembled the shocking Brazil-Germany soccer game, however, there is one difference – USD/JPY may change the game already today. The US treasuries yield keeps falling, and keeps pressuring the pair. However, the FOMC meeting minutes may bring some support to the USD in case the monetary authorities will be more optimistic on economic outlook, and more aggressive on the rates. In this case we may see the come back to 102.09 area.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.66, with support below at 101.40, 101.23 and 100.97 with resistance above at 101.83, 102.09, and 102.26. Hourly Moving Averages are mixed, with the 200SMA at 101.70 and the daily 20EMA at 101.86. Hourly RSI is bearish at 49.