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22 May 2014
USD/JPY is holding its form on the open
FXStreet (Guatemala) - USD/JPY is trading at 101.41, up 0.07% on the day, having posted a daily high at 101.48 and low at 101.33.
USD/JPY is holding the better levels in Asia with a positive open in the Nikkei up 1.04% and after USD/JPY's 100.76 low of early February supported the pair on the drop, after the pair pierced through the 101.19 200-day MA. However, strategists at TD Securities explained that short term trend points to further JPY gains against the USD. The calendar for the pair is quiet apart from the BoJ monthly survey later on, while tomorrow US existing home sales for April are released.
USD/JPY Levels
With spot trading at 101.45, we can see next resistance ahead at 101.48 (Daily High), 101.57 (Daily Classic R1), 101.63 (Yesterday's High), 101.69 (Hourly 200 SMA) and 101.73 (Weekly Classic PP). Support below can be found at 101.38 (Hourly 100 SMA), 101.38 (Daily Classic PP), 101.37 (Daily Open), 101.35 (Hourly 20 EMA) and 101.33 (Monthly Low).
USD/JPY is holding the better levels in Asia with a positive open in the Nikkei up 1.04% and after USD/JPY's 100.76 low of early February supported the pair on the drop, after the pair pierced through the 101.19 200-day MA. However, strategists at TD Securities explained that short term trend points to further JPY gains against the USD. The calendar for the pair is quiet apart from the BoJ monthly survey later on, while tomorrow US existing home sales for April are released.
USD/JPY Levels
With spot trading at 101.45, we can see next resistance ahead at 101.48 (Daily High), 101.57 (Daily Classic R1), 101.63 (Yesterday's High), 101.69 (Hourly 200 SMA) and 101.73 (Weekly Classic PP). Support below can be found at 101.38 (Hourly 100 SMA), 101.38 (Daily Classic PP), 101.37 (Daily Open), 101.35 (Hourly 20 EMA) and 101.33 (Monthly Low).