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19 May 2014
Someone, get USD/JPY out of comatose
FXStreet (Moscow) - USD/JPY has died somewhere around 101.55 after moving in a depressingly narrow 7-pips range in Asia
Yields rule
USD/JPY is positioned close to 3-month lows coming nearer to the key support level at 101.30. The break below may trigger a large sell-off of the pair, and resume the downward move we saw in January. The weakness of the USD is quite surprising given the strength of most fundamental indicators from the USA. The market prefers to ignore the economics so far, focusing the attention on the still sliding 10Y treasury yields. If the hunger for safety continues, it may only support the sell-off, and help the pair the break below the mentioned support. In this case, the initial target may become 101.00 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.51, with support below at 101.35, 101.19 and 101.02 with resistance above at 101.68, 101.85, and 102.01. Hourly Moving Averages are mixed, with the 200SMA at 101.81 and the daily 20EMA at 102.14. Hourly RSI is bullish at 51
Yields rule
USD/JPY is positioned close to 3-month lows coming nearer to the key support level at 101.30. The break below may trigger a large sell-off of the pair, and resume the downward move we saw in January. The weakness of the USD is quite surprising given the strength of most fundamental indicators from the USA. The market prefers to ignore the economics so far, focusing the attention on the still sliding 10Y treasury yields. If the hunger for safety continues, it may only support the sell-off, and help the pair the break below the mentioned support. In this case, the initial target may become 101.00 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.51, with support below at 101.35, 101.19 and 101.02 with resistance above at 101.68, 101.85, and 102.01. Hourly Moving Averages are mixed, with the 200SMA at 101.81 and the daily 20EMA at 102.14. Hourly RSI is bullish at 51