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25 Jul 2014
USD/JPY made another attempt to settle above 101.80
FXStreet (Moscow) - USD/JPY opened at 101.79, but started to edge down reaching 101.71 session low, in order to rebound to 101.80 again.
And targets are higher
USD/JPY is gradually crawling to the much desired upper limit of the July range at 102.26. The strength of the USD is partly rooted in recent labor data report confirming the decreasing number on unemployed claiming for government help. However, this may be not the only reason of the pair strength, as the recent Japanese data proved to be weaker than expected hinting on the possibility of slowing Japanese economy. If it’s true, the pair may continue its rise with initial target at 101.99 resistance.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.70, with support below at 101.52, 101.23 and 101.06 with resistance above at 101.99, 102.16, and 102.45. Hourly Moving Averages are mixed, with the 200SMA bullish at 101.51 and the daily 20EMA flat at 101.60. Hourly RSI is bullish at 64.
And targets are higher
USD/JPY is gradually crawling to the much desired upper limit of the July range at 102.26. The strength of the USD is partly rooted in recent labor data report confirming the decreasing number on unemployed claiming for government help. However, this may be not the only reason of the pair strength, as the recent Japanese data proved to be weaker than expected hinting on the possibility of slowing Japanese economy. If it’s true, the pair may continue its rise with initial target at 101.99 resistance.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.70, with support below at 101.52, 101.23 and 101.06 with resistance above at 101.99, 102.16, and 102.45. Hourly Moving Averages are mixed, with the 200SMA bullish at 101.51 and the daily 20EMA flat at 101.60. Hourly RSI is bullish at 64.