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5 Mar 2014
USD/JPY tests 102.20/30 area of resistance
FXstreet.com (Moscow) – USD/JPY is testing 102.20/30 resistance area from the opening, but haven’t succeeded yet.
Traditional data-oriented trades
Despite the calm Asian trades, the pair is on positive note. Nikkei closed up by 1.2% at 14,897.63. As we stepped to unstable but more peaceful path in the FOREX market, the interest to fundamentals returns. Today is going to be a traditional busy day with lots of key economic data. The market focus is on Non-Manufacturing ISM report given the importance of service sector for the American economy. Pay special attention to the employment components as this one is one the best correlated leading indicators of Non-Farm Payroll results. If we see the index rising, the wave of demand may bring the pair to 102.60 resistance level.
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.
Traditional data-oriented trades
Despite the calm Asian trades, the pair is on positive note. Nikkei closed up by 1.2% at 14,897.63. As we stepped to unstable but more peaceful path in the FOREX market, the interest to fundamentals returns. Today is going to be a traditional busy day with lots of key economic data. The market focus is on Non-Manufacturing ISM report given the importance of service sector for the American economy. Pay special attention to the employment components as this one is one the best correlated leading indicators of Non-Farm Payroll results. If we see the index rising, the wave of demand may bring the pair to 102.60 resistance level.
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.