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19 Feb 2014
USD/JPY is under pressure from US data and Nikkei moves
FXstreet.com (Moscow) – USD/JPY is still in process of retracement from highs posted at the BOJ rate decision reaching 102.17 at the moment.
USD/JPY may be drowned by US data
The pair was not able to hold onto its gains seen yesterday in the morning, and Nikkei negative moves strengthened the pressure on the pair. The released overnight US economic data only supported the concerns that the economy recovery is very fragile, and may finally prevent Yellen from further tapering during the March meeting. Today the market will pay even more attention to the US housing data, as this sector is of high importance for further growth outlook. The chances of worse than expected housing starts and permissions are high, given the bad weather conditions already effected most of the January numbers. In this case the pair may resume the sell-off with initial target at 101.82 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.29, with support below at 101.82, 101.29 and 100.82, with resistance above at 102.82, 103.29, and 103.82. Hourly Moving Averages are mixed, with the 200SMA at 102.17 and the daily 20EMA at 102.47. Hourly RSI is neutral at 47
USD/JPY may be drowned by US data
The pair was not able to hold onto its gains seen yesterday in the morning, and Nikkei negative moves strengthened the pressure on the pair. The released overnight US economic data only supported the concerns that the economy recovery is very fragile, and may finally prevent Yellen from further tapering during the March meeting. Today the market will pay even more attention to the US housing data, as this sector is of high importance for further growth outlook. The chances of worse than expected housing starts and permissions are high, given the bad weather conditions already effected most of the January numbers. In this case the pair may resume the sell-off with initial target at 101.82 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.29, with support below at 101.82, 101.29 and 100.82, with resistance above at 102.82, 103.29, and 103.82. Hourly Moving Averages are mixed, with the 200SMA at 102.17 and the daily 20EMA at 102.47. Hourly RSI is neutral at 47