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21 May 2014
USD/JPY is depressed below 101.00
FXStreet (Moscow) - USD/JPY plunged below the psychologically important 101.00 level and settled above101.80 support where large stops are clustered.
USD/JPY is in US Treasury hands
The pair is trading close to the bottom of 3-month range, and the tension is escalating, as the strong break below the line may trigger the sell orders below with the possibility of moving back to February lows around 100.60 area. For now the US treasury yields may become the key catalysts of breakout. The lower the rates are moving, the more selling may be seen in the pair. If so, the initial target on the way down may be at 100.75 followed by 100.50 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.38, with support below at 101.14, 100.95 and 100.72 with resistance above at 101.57, 101.80, and 101.99. Hourly Moving Averages are bearish, with the 200SMA at 101.73 and the daily 20EMA at 101.92. Hourly RSI is bearish at 44
USD/JPY is in US Treasury hands
The pair is trading close to the bottom of 3-month range, and the tension is escalating, as the strong break below the line may trigger the sell orders below with the possibility of moving back to February lows around 100.60 area. For now the US treasury yields may become the key catalysts of breakout. The lower the rates are moving, the more selling may be seen in the pair. If so, the initial target on the way down may be at 100.75 followed by 100.50 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.38, with support below at 101.14, 100.95 and 100.72 with resistance above at 101.57, 101.80, and 101.99. Hourly Moving Averages are bearish, with the 200SMA at 101.73 and the daily 20EMA at 101.92. Hourly RSI is bearish at 44