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4 Mar 2014
USD/JPY had several reasons to fall
FXstreet.com (Moscow) – USD/JPY rushed to 102.00 area on news that Russian President ordered troops engaged in military exercises to return to their bases.
USD/JPY may rise only in piece and quiet
USD/JPY showed some attempts to rise from the early morning, though only the news about troops returning back to Russian bases was able to trigger a more sustained move. found buyers in the early going, and while the move higher was not large, it was slowly persistent. Nikkei closed up by 0.47% at 14,721.48 only supporting the move higher. The yen will remain a beneficiary of risk-off developments triggered by speculations about Russian-Ukrainian war. The possibility of real military actions is rather low, but the wave of articles on this issue only heats up the market that is still a hostage of rumors, but not facts. Nevertheless, as soon as the situation calms down we may see a new wave of interest to USD, especially given the looming Non-Farm Payrolls report. If so, wait for a move higher with initial target at 102.18 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.43, with support below at 101.16, 100.92 and 100.64, with resistance above at 101.67, 101.94, and 102.18. Hourly Moving Averages are mixed, with the 200SMA at 102.14 and the daily 20EMA at 102.24. Hourly RSI is neutral at 60.
USD/JPY may rise only in piece and quiet
USD/JPY showed some attempts to rise from the early morning, though only the news about troops returning back to Russian bases was able to trigger a more sustained move. found buyers in the early going, and while the move higher was not large, it was slowly persistent. Nikkei closed up by 0.47% at 14,721.48 only supporting the move higher. The yen will remain a beneficiary of risk-off developments triggered by speculations about Russian-Ukrainian war. The possibility of real military actions is rather low, but the wave of articles on this issue only heats up the market that is still a hostage of rumors, but not facts. Nevertheless, as soon as the situation calms down we may see a new wave of interest to USD, especially given the looming Non-Farm Payrolls report. If so, wait for a move higher with initial target at 102.18 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.43, with support below at 101.16, 100.92 and 100.64, with resistance above at 101.67, 101.94, and 102.18. Hourly Moving Averages are mixed, with the 200SMA at 102.14 and the daily 20EMA at 102.24. Hourly RSI is neutral at 60.