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18 Dec 2013
USD/JPY ranges following overnight climb
FXstreet.com (Barcelona) - Having climbed from a low at 102.55 overnight, USD/JPY posted a high at 103.01, before losing momentum and ranging into Europe, and presently trading at 102.94.
USD/JPY joins Nikkei in move higher on BoJ commentary
Overnight commentary from the Bank of Japan, in which officials claimed to see significant scope to boost government bond purchases as a means of supporting efforts to reach 2% inflation, helped the Nikkei to close 2.02% up. The weakening Yen saw USD/JPY climb higher and was supported by better than expected Japanese Exporter and Merchandise Trade Balance data too. Matt Bacon-Hall of FXBeat notes that following the climb to test the 103 level, was met by selling pressures.
What are today’s key USD/JPY levels?
The daily pivot point sits at 102.75, with support below at 102.3963 (S1), 102.1332 (S2) and 101.7713 (S3), and resistance at 103.0213 (R1), 103.3832 (R2) and 103.6463 (R3). The range between 102.59-25 offers technical support, with a variety of technical levels clustered. Matt Bacon-Hall of FXBeat sees upcoming resistance at 103.00-10 with leveraged accounts offers, and support below at 102.60-50 with Corporate and Macro bids.
USD/JPY joins Nikkei in move higher on BoJ commentary
Overnight commentary from the Bank of Japan, in which officials claimed to see significant scope to boost government bond purchases as a means of supporting efforts to reach 2% inflation, helped the Nikkei to close 2.02% up. The weakening Yen saw USD/JPY climb higher and was supported by better than expected Japanese Exporter and Merchandise Trade Balance data too. Matt Bacon-Hall of FXBeat notes that following the climb to test the 103 level, was met by selling pressures.
What are today’s key USD/JPY levels?
The daily pivot point sits at 102.75, with support below at 102.3963 (S1), 102.1332 (S2) and 101.7713 (S3), and resistance at 103.0213 (R1), 103.3832 (R2) and 103.6463 (R3). The range between 102.59-25 offers technical support, with a variety of technical levels clustered. Matt Bacon-Hall of FXBeat sees upcoming resistance at 103.00-10 with leveraged accounts offers, and support below at 102.60-50 with Corporate and Macro bids.