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25 Feb 2014
USD/JPY has stucked at 102.50
FXStreet (Moscow) - USD/JPY edged higher and tested the resistance level of 102.60 early in Tokyo as positive Nikkei triggered JPY selling across the board, but the upside dynamic was not sustained and the pair returned to the area just below 102.50.
USD/JPY is in wait and see mode
USD/JPY managed to restore ground after dismal start on Monday The currency pair ended the first trading day of the week just where it had started it. USD/JPY seems to be locked in a narrow range as traders might be unwilling to make hard and fast decisions ahead of the key macro data due later this week. The corporate service price index came at +0.8% in January after +1/1% in December and was largely ignored as nationwide CPI scheduled on Friday looms large. For now USD/JPY bulls need to break above rumored offers at 102.60/70 to go higher to 102.80/90, while bears are aiming at 102.40 and then at 102.30.20.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.44, with support below at 102.18, 101.89 and 101.63, with resistance above at 102.72, 102.98, and 103.27. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.20 and the daily 20EMA at 102.44. Hourly RSI is neutral at 51.
USD/JPY is in wait and see mode
USD/JPY managed to restore ground after dismal start on Monday The currency pair ended the first trading day of the week just where it had started it. USD/JPY seems to be locked in a narrow range as traders might be unwilling to make hard and fast decisions ahead of the key macro data due later this week. The corporate service price index came at +0.8% in January after +1/1% in December and was largely ignored as nationwide CPI scheduled on Friday looms large. For now USD/JPY bulls need to break above rumored offers at 102.60/70 to go higher to 102.80/90, while bears are aiming at 102.40 and then at 102.30.20.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.44, with support below at 102.18, 101.89 and 101.63, with resistance above at 102.72, 102.98, and 103.27. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.20 and the daily 20EMA at 102.44. Hourly RSI is neutral at 51.