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31 Mar 2014
USD/JPY is close to 2-week highs, and Kuroda supports
FXstreet.com (Moscow) – USD/JPY opened higher at 102.93 on Monday, and after trading around 102.80 in the morning edged higher again posting 102.99 by the moment.
US data without bad weather effects
The pair returned to 2-week highs, and the fact that it shows some consolidation but not retracement from this area says that it may go further up. The recent comments from the BOJ’s Kuroda that it’s too early to debate specific QE exit strategies helped the pair move closer to 103.00 area. The scheduled for release US reports of the week may boost positive expectations on further recovery of the American economy. The bad weather effect we saw in January and February data now receded, so if the 103.00 round number is broken, wait for the move higher with initial target at 103.58.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.62, with support below at 102.24, 101.66 and 101.28 with resistance above at 103.20, 103.58, and 104.16. Hourly Moving Averages are bullish, with the 200SMA at 102.20 and the daily 20EMA at 102.29. Hourly RSI is neutral at 68.
US data without bad weather effects
The pair returned to 2-week highs, and the fact that it shows some consolidation but not retracement from this area says that it may go further up. The recent comments from the BOJ’s Kuroda that it’s too early to debate specific QE exit strategies helped the pair move closer to 103.00 area. The scheduled for release US reports of the week may boost positive expectations on further recovery of the American economy. The bad weather effect we saw in January and February data now receded, so if the 103.00 round number is broken, wait for the move higher with initial target at 103.58.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.62, with support below at 102.24, 101.66 and 101.28 with resistance above at 103.20, 103.58, and 104.16. Hourly Moving Averages are bullish, with the 200SMA at 102.20 and the daily 20EMA at 102.29. Hourly RSI is neutral at 68.