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21 Apr 2014
USD/JPY goes back to the roots – at 102.50
FXStreet (Moscow) - USD/JPY turned around after it reached 2-week high at 102.70, and moved lower trading around 102.50 area by the moment.
Time to position
Absence of the European markets may leave the investors without catalysts for another trading day, and judging by Good Friday ranges, we may not see much this day. Most probably the pair will be confined to 30-pip range it already showed in the morning. Nevertheless, all those traders who came back to the trades will have time to position before the key events of the week. Although we don’t expect to see many important releases, still high volatility is not ruled out, as the market will be watching the situation in Russia closely. The downside is limited by support level at 102.43, and the upside – by 102.72 resistance.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.43, with support below at 102.28, 102.15 and 102.00 with resistance above at 102.57, 102.72, and 102.85. Hourly Moving Averages are bullish, with the 200SMA at 101.96 and the daily 20EMA neutral at 102.38. Hourly RSI is bullish at 64.
Time to position
Absence of the European markets may leave the investors without catalysts for another trading day, and judging by Good Friday ranges, we may not see much this day. Most probably the pair will be confined to 30-pip range it already showed in the morning. Nevertheless, all those traders who came back to the trades will have time to position before the key events of the week. Although we don’t expect to see many important releases, still high volatility is not ruled out, as the market will be watching the situation in Russia closely. The downside is limited by support level at 102.43, and the upside – by 102.72 resistance.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.43, with support below at 102.28, 102.15 and 102.00 with resistance above at 102.57, 102.72, and 102.85. Hourly Moving Averages are bullish, with the 200SMA at 101.96 and the daily 20EMA neutral at 102.38. Hourly RSI is bullish at 64.