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11 Feb 2014
USD/JPY back on the bid on Yellen
FXStreet (Guatemala) - USD/JPY has seen a series of spikes of late only to be sent right back to where the pair came from in the same moments. In this event, the pair is volatile around Yellen.
USD/JPY, on this occasion, flew from 102.28 to reach a high of 102.69 on the five minute chart but met fierce supply there which took the pair on course to the 102 handle within the following hour. Yellen released her Semiannual Monetary Policy Report to the Congress was published. The new Fed Chair Janet Yellen said in her first semi-annual testimony on monetary policy and the economic outlook to the US Congress that the situation on the labor market had improved but that the economic recovery still had a long way to go, sending the market mixed signals. She has been speaking and that has lifted the pair again.
USD/JPY Levels
The 20 DMA is 102.96, the 50 DMA is 103.47 and the 200 DMA is 100.13. RSI (14) reads 49.51. Supports are ascending from 101.35, 101.77, 101.89, 101.99. Spot is 102.25 while resistances are 102.46, 102.65, 102.77 and 102.94.
USD/JPY, on this occasion, flew from 102.28 to reach a high of 102.69 on the five minute chart but met fierce supply there which took the pair on course to the 102 handle within the following hour. Yellen released her Semiannual Monetary Policy Report to the Congress was published. The new Fed Chair Janet Yellen said in her first semi-annual testimony on monetary policy and the economic outlook to the US Congress that the situation on the labor market had improved but that the economic recovery still had a long way to go, sending the market mixed signals. She has been speaking and that has lifted the pair again.
USD/JPY Levels
The 20 DMA is 102.96, the 50 DMA is 103.47 and the 200 DMA is 100.13. RSI (14) reads 49.51. Supports are ascending from 101.35, 101.77, 101.89, 101.99. Spot is 102.25 while resistances are 102.46, 102.65, 102.77 and 102.94.