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28 Mar 2014
USD/JPY caged itself in 20-pip range
FXstreet.com (Moscow) – USD/JPY narrowed the range of Asian trade to 20 pips, and wiggled inside, trading at 102.15 at the moment.
Back home to ranges
The pair is back home to its narrow range, that may become even narrower today given the usual Friday laziness. We already got a bunch of Japanese reports, that didn’t trigger any significant market reaction, as the numbers were mixed. Some US releases are to follow tonight. PCE deflator may be of the most importance as it used to be the preferred FED inflation indicator those times when the monetary authorities were scared by high price pressure. If the numbers are still at recent 1.1 per cent, we may see a mild sell-off of the pair, as the market will interpret the data as another argument for the FED not to speed up tapering. The initial target to the downside is at 101.78 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.12, with support below at 101.78, 101.38 and 101.05 with resistance above at 102.52, 102.85, and 103.25. Hourly Moving Averages are mixed, with the 200SMA at 102.11 and the daily 20EMA at 102.23. Hourly RSI is neutral at 50.
Back home to ranges
The pair is back home to its narrow range, that may become even narrower today given the usual Friday laziness. We already got a bunch of Japanese reports, that didn’t trigger any significant market reaction, as the numbers were mixed. Some US releases are to follow tonight. PCE deflator may be of the most importance as it used to be the preferred FED inflation indicator those times when the monetary authorities were scared by high price pressure. If the numbers are still at recent 1.1 per cent, we may see a mild sell-off of the pair, as the market will interpret the data as another argument for the FED not to speed up tapering. The initial target to the downside is at 101.78 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.12, with support below at 101.78, 101.38 and 101.05 with resistance above at 102.52, 102.85, and 103.25. Hourly Moving Averages are mixed, with the 200SMA at 102.11 and the daily 20EMA at 102.23. Hourly RSI is neutral at 50.