18 Jun 2014
USD/JPY - long relationship with 102 may end soon
FXStreet (Moscow) - USD/JPY opened the day at 102.13, reached 102.30 session high, and is still somewhere around at the moment.
The attachments
Nikkei closes up 0.93% at 15,115, and helped to support the pair rise again. Although USD/JPY is deeply attached to 102.00 area, today their long relationships may come to an end thanks to the looming FOMC meeting that may present more aggressive US economy forecasts. The recently released American CPI data only supported the hopes for growth and inflation revision, given the better than expected consumer price index. If the Fed doesn’t disappoint, we may see a wave of demand on the pair with initial target at 102.52.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.07, with support below at 101.87, 101.61 and 101.42 with resistance above at 102.33, 102.52, and 102.78. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.216 and the daily 20EMA at 102.08. Hourly RSI is bullish at 57.
The attachments
Nikkei closes up 0.93% at 15,115, and helped to support the pair rise again. Although USD/JPY is deeply attached to 102.00 area, today their long relationships may come to an end thanks to the looming FOMC meeting that may present more aggressive US economy forecasts. The recently released American CPI data only supported the hopes for growth and inflation revision, given the better than expected consumer price index. If the Fed doesn’t disappoint, we may see a wave of demand on the pair with initial target at 102.52.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.07, with support below at 101.87, 101.61 and 101.42 with resistance above at 102.33, 102.52, and 102.78. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.216 and the daily 20EMA at 102.08. Hourly RSI is bullish at 57.