28 May 2014
USD/JPY is on the way to Tuesday lows
FXStreet (Moscow) - USD/JPY opened the day at 101.96, reached session low at 101.79, and is trading not far from it at the moment.
No trust to USD
Even stronger than expected Durable Goods data, and quite positive Consumer Confidence report out of the US yesterday failed to trigger a prolonged rally of the pair. The pair did cross above 102.00 yesterday for the first time since May, 15, but the initial momentum faded away, and the pair came back below the mentioned level. Such a behavior may prove the market is still not convinced by the strength of second-tier fundamentals, and more evidence of economy recovery is needed. Thus, nothing surprising in the current retreat of the pair, as it reached 101.80 at the moment, and if broken may move lower to 101.51 support.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.95, with support below at 101.75, 101.51 and 101.31 with resistance above at 102.19, 102.39, and 102.63. Hourly Moving Averages are mixed, with the 200SMA at 101.61 and the daily 20EMA at 101.88. Hourly RSI is bearish at 42.
No trust to USD
Even stronger than expected Durable Goods data, and quite positive Consumer Confidence report out of the US yesterday failed to trigger a prolonged rally of the pair. The pair did cross above 102.00 yesterday for the first time since May, 15, but the initial momentum faded away, and the pair came back below the mentioned level. Such a behavior may prove the market is still not convinced by the strength of second-tier fundamentals, and more evidence of economy recovery is needed. Thus, nothing surprising in the current retreat of the pair, as it reached 101.80 at the moment, and if broken may move lower to 101.51 support.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.95, with support below at 101.75, 101.51 and 101.31 with resistance above at 102.19, 102.39, and 102.63. Hourly Moving Averages are mixed, with the 200SMA at 101.61 and the daily 20EMA at 101.88. Hourly RSI is bearish at 42.