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11 Jun 2014
USD/JPY rangy and traders sideline the pair
FXStreet (Guatemala) - USD/JPY is trading at 102.38, up 0.03% on the day, having posted a daily high at 102.39 and low at 102.29.
Nikkei is open up at 0.04% and the Yen is unchanged. Meanwhile, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained "Domestic data was encouraging with rising confidence and outlook surveys suggesting that there is increasing buy‐in to the potential success of PM Abe’s policies. This week’s BoJ meeting is expected to prove a non‐event.There is better risk/reward elsewhere."
USD/JPY Levels
Current price is 102.36, with resistance ahead at 102.38 (Daily High), 102.38 (Daily Classic PP), 102.41 (Weekly Low), 102.46 (Hourly 100 SMA) and 102.56 (Daily Classic R1). Next support to the downside can be found at 102.36 (Hourly 20 EMA), 102.35 (Daily Open), 102.34 (Weekly Classic PP), 102.31 (Hourly 200 SMA) and 102.29 (Daily Low).
Nikkei is open up at 0.04% and the Yen is unchanged. Meanwhile, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained "Domestic data was encouraging with rising confidence and outlook surveys suggesting that there is increasing buy‐in to the potential success of PM Abe’s policies. This week’s BoJ meeting is expected to prove a non‐event.There is better risk/reward elsewhere."
USD/JPY Levels
Current price is 102.36, with resistance ahead at 102.38 (Daily High), 102.38 (Daily Classic PP), 102.41 (Weekly Low), 102.46 (Hourly 100 SMA) and 102.56 (Daily Classic R1). Next support to the downside can be found at 102.36 (Hourly 20 EMA), 102.35 (Daily Open), 102.34 (Weekly Classic PP), 102.31 (Hourly 200 SMA) and 102.29 (Daily Low).