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3 Mar 2014
USD/JPY rangebound despite risk aversion
FXStreet (Córdoba) - The USD/JPY was unable to extend its recovery beyond the 101.50 area and was confined to further consolidation during the New York session.
The pair has settled in a range unable to set direction despite growing tensions and military action treats in Ukraine as Russia demands surrender of two warships, which has sent stocks sharply lower. At time of writing, the USD/JPY is trading at the 101.45 zone, having wavered between a 1-month low of 101.19 and a daily high of 101.65.
USD/JPY levels to watch
If the USD/JPY breaks decisively above 101.50, next resistances are seen at 101.65 (Mar 3 high) and 102.00 (psychological level). On the downside, supports could be found at 101.19 (Mar 3 low), 101.00 (psychological level) and 100.80 (Feb 5 low).
The pair has settled in a range unable to set direction despite growing tensions and military action treats in Ukraine as Russia demands surrender of two warships, which has sent stocks sharply lower. At time of writing, the USD/JPY is trading at the 101.45 zone, having wavered between a 1-month low of 101.19 and a daily high of 101.65.
USD/JPY levels to watch
If the USD/JPY breaks decisively above 101.50, next resistances are seen at 101.65 (Mar 3 high) and 102.00 (psychological level). On the downside, supports could be found at 101.19 (Mar 3 low), 101.00 (psychological level) and 100.80 (Feb 5 low).