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5 Mar 2014
USD/JPY upside quest has stalled
FXStreet (Moscow) - USD/JPY retraced from Asian highs at 102.29 and settled around the opening level of 102.20.
USD/JPY hits the roof
USD/JPY was a star-performer on Tuesday as it gained nearly 100 pips and finished the day above the bespoke level of 102.00 as the geopolitical tensions eased just a bit. Russian troops went back to their barracks after their war-game exercises and that was enough for the markets to breathe in with relief. It is worth noting that the Yen strengthening during risk-aversive sentiments was anemic if compared to the massive sell-off across the board triggered by the improvements on the geopolitical front. It conveys a suggestion that the markets are generally reluctant to buy Japanese currency even though economic data from Japan have been rather positive. There are no USD/JPY-related risk events scheduled for the European session, so the pair is likely to move in a range (if there is no shocking news from Ukraine, of course) Some positioning ahead of the US releases may influence the USD/JPY dynamics, though we do not expect it to be of great importance, unless important technical levels are broken. On the downside, keep an eye at 102.45 (medium offers) and 102.65 (exporter offers). On the upside, the resistance is seen at 102.00 and 101.82.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.98, with support below at 101.66, 101.05 and 100.73, with resistance above at 102.60, 102.92, and 103.53. Hourly Moving Averages are mixed, with the 200SMA at 102.12 and the daily 20EMA at 102.24. Hourly RSI is neutral at 65.
USD/JPY hits the roof
USD/JPY was a star-performer on Tuesday as it gained nearly 100 pips and finished the day above the bespoke level of 102.00 as the geopolitical tensions eased just a bit. Russian troops went back to their barracks after their war-game exercises and that was enough for the markets to breathe in with relief. It is worth noting that the Yen strengthening during risk-aversive sentiments was anemic if compared to the massive sell-off across the board triggered by the improvements on the geopolitical front. It conveys a suggestion that the markets are generally reluctant to buy Japanese currency even though economic data from Japan have been rather positive. There are no USD/JPY-related risk events scheduled for the European session, so the pair is likely to move in a range (if there is no shocking news from Ukraine, of course) Some positioning ahead of the US releases may influence the USD/JPY dynamics, though we do not expect it to be of great importance, unless important technical levels are broken. On the downside, keep an eye at 102.45 (medium offers) and 102.65 (exporter offers). On the upside, the resistance is seen at 102.00 and 101.82.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.98, with support below at 101.66, 101.05 and 100.73, with resistance above at 102.60, 102.92, and 103.53. Hourly Moving Averages are mixed, with the 200SMA at 102.12 and the daily 20EMA at 102.24. Hourly RSI is neutral at 65.