28 Apr 2014
USD/JPY trapped between MAs in low vol trading
FXStreet (London) - Having steadily climbed from its overnight low, USD/JPY looks to be happy to range trade in the absence of any viable cues for activity.
Following a respective high and low at 102.40 and 102.04 , USD/JPY is currently trading at 102.31, up 0.12% on the day. Overnight saw a huge improvement in Japanese Large Retailer’s Sales data, while Retail Trade data fell in line with previous. Presently the pair is trading in a tight range between 102.40-20 and looks to be being guided by the 50, 100 & 200 MA’s in rangebound movement.
USD/JPY Technicals
Currently RSI is at 43.66, up from the last hourly print at 42.33, with ADX at 24.14, up from its previous close at 23.72. Looking to a daily chart, we see that RSI is neutral at 46.65. A declining 200 SMA on the hourly USD/JPY chart is currently at 102.31, down from 102.34 at the previous close. On average, the exponential closing price for the past 20 days is 102.39, with the trend indicating a rangebound movement ahead. On the hourly USD/JPY chart, ATR (14) is presently at 9 pips, while 2-Standard Deviation Volatility Bandwidth is shrinking and currently 46 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is shrinking at 286 pips.
USD/JPY Levels
Current price is 102.32, with resistance ahead at 102.34 (Hourly 200 SMA), 102.39 (Daily 20 SMA), 102.40 (Daily High), 102.42 (Hourly 100SMA) and 102.48 (Daily Classic R1). Below, we can see support at 102.30 (Weekly Classic PP), 102.22 (Daily Classic PP), 102.20 (Daily Open), 102.19 (Weekly Low) and 102.18 (Hourly 20 EMA).
Following a respective high and low at 102.40 and 102.04 , USD/JPY is currently trading at 102.31, up 0.12% on the day. Overnight saw a huge improvement in Japanese Large Retailer’s Sales data, while Retail Trade data fell in line with previous. Presently the pair is trading in a tight range between 102.40-20 and looks to be being guided by the 50, 100 & 200 MA’s in rangebound movement.
USD/JPY Technicals
Currently RSI is at 43.66, up from the last hourly print at 42.33, with ADX at 24.14, up from its previous close at 23.72. Looking to a daily chart, we see that RSI is neutral at 46.65. A declining 200 SMA on the hourly USD/JPY chart is currently at 102.31, down from 102.34 at the previous close. On average, the exponential closing price for the past 20 days is 102.39, with the trend indicating a rangebound movement ahead. On the hourly USD/JPY chart, ATR (14) is presently at 9 pips, while 2-Standard Deviation Volatility Bandwidth is shrinking and currently 46 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is shrinking at 286 pips.
USD/JPY Levels
Current price is 102.32, with resistance ahead at 102.34 (Hourly 200 SMA), 102.39 (Daily 20 SMA), 102.40 (Daily High), 102.42 (Hourly 100SMA) and 102.48 (Daily Classic R1). Below, we can see support at 102.30 (Weekly Classic PP), 102.22 (Daily Classic PP), 102.20 (Daily Open), 102.19 (Weekly Low) and 102.18 (Hourly 20 EMA).