Back
17 Apr 2014
USD/JPY back to black figures
FXStreet (Edinburgh) - The USD/JPY is recovering the positive territory on Thursday, bouncing off session lows in sub-101.90 levels.
USD/JPY supported around 101.90
The renewed bid tone around the greenback is allowing spot to revert a negative start, although the correction seems to struggle to follow through 102.30 so far. The pair well managed to shrug off the dovish tone from Chairwoman Yellen’s speech on Wednesday, rebounding from session troughs. “Note however that any failure to successfully challenge the Ichimoku cloud circa 102.50 and the 55-day MA (102.30) may instead see a retreat be below 102.00”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
USD/JPY significant levels
As of writing the pair is up 0.01% at 102.23 with the next resistance at 102.37 (high Apr.16) ahead of 102.38 (Tenkan Sen) and then 102.39 (38.2% of 104.13-101.32). On the downside, a break below 101.86 (low Apr.17) would open the door to 101.81 (low Apr.16) and finally 101.50 (low Apr.15).
USD/JPY supported around 101.90
The renewed bid tone around the greenback is allowing spot to revert a negative start, although the correction seems to struggle to follow through 102.30 so far. The pair well managed to shrug off the dovish tone from Chairwoman Yellen’s speech on Wednesday, rebounding from session troughs. “Note however that any failure to successfully challenge the Ichimoku cloud circa 102.50 and the 55-day MA (102.30) may instead see a retreat be below 102.00”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
USD/JPY significant levels
As of writing the pair is up 0.01% at 102.23 with the next resistance at 102.37 (high Apr.16) ahead of 102.38 (Tenkan Sen) and then 102.39 (38.2% of 104.13-101.32). On the downside, a break below 101.86 (low Apr.17) would open the door to 101.81 (low Apr.16) and finally 101.50 (low Apr.15).