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24 Feb 2014
USD/JPY is shy to recover
FXstreet.com (Moscow) – USD/JPY is having hard time to climb up from the morning low at 102.16 reaching only 102.32 at the moment.
USD/JPY doesn’t trust February data
USD/JPY found the bottom at 102.16, and now is trying to recover part of the morning losses driven by the Nikkei sell-off. It closed down by 0.19% at 14,837.68, and now the market will turn to new catalysts. As last weekend’s G20 meeting brought no surprises to the market, and the geopolitical tension is rising, especially in Ukraine, the chances of risk-aversive mood during the whole week are quite high. It means fundamentals will have less impact on the currencies, especially given the weather factor that will be priced in within February/March US releases. In such circumstances the pair may resume the slide with initial target at 101.97 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.55, with support below at 102.26, 101.97 and 101.68, with resistance above at 102.85, 103.14, and 103.43. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.21 and the daily 20EMA at 102.44. Hourly RSI is neutral at 51.
USD/JPY doesn’t trust February data
USD/JPY found the bottom at 102.16, and now is trying to recover part of the morning losses driven by the Nikkei sell-off. It closed down by 0.19% at 14,837.68, and now the market will turn to new catalysts. As last weekend’s G20 meeting brought no surprises to the market, and the geopolitical tension is rising, especially in Ukraine, the chances of risk-aversive mood during the whole week are quite high. It means fundamentals will have less impact on the currencies, especially given the weather factor that will be priced in within February/March US releases. In such circumstances the pair may resume the slide with initial target at 101.97 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.55, with support below at 102.26, 101.97 and 101.68, with resistance above at 102.85, 103.14, and 103.43. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.21 and the daily 20EMA at 102.44. Hourly RSI is neutral at 51.