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2 Jan 2014
USD/JPY to retest 105.50?
FXstreet.com (Barcelona) - USD/JPY ranged overnight posting a low at 105.16 and a high at 105.43 before declining to where it is presently trading at 105.36.
USD/JPY eyes on 105.50 during Japanese holiday
With Chinese Manufacturing PMI missing expectations at 5/51.3, the overnight session was characterised by sideways trading, with spot making a half hearted attempt at the 105.50 mark that was protected by sellers providing resistance from 105.40 onwards. Calendar wise, the European session is light on significance, and later we have US Initial and Continuing Jobless Claims, and Manufacturing PMI data. Matt Bacon-Hall of FXBeat comments, “Liquidity will pick up next week, as we all shake off this stop/start holiday malaise.”
What are today’s USD/JPY key levels?
Hourly RSI sits at 64 and gently climbing, with ADX at 20 and neutral. The hourly 200 SMA sits at 104.75 and is sloping higher, with the 20D EMA at 103.88. The daily pivot point sits at 105.31, providing near support, with next support below at 105.21 (S1) and resistance above at 105.41 (R1). The range between 105.40-74 should offer technical resistance, with a number of levels clustered. Below, the range between 105.38-04 offers equivalent support.
USD/JPY eyes on 105.50 during Japanese holiday
With Chinese Manufacturing PMI missing expectations at 5/51.3, the overnight session was characterised by sideways trading, with spot making a half hearted attempt at the 105.50 mark that was protected by sellers providing resistance from 105.40 onwards. Calendar wise, the European session is light on significance, and later we have US Initial and Continuing Jobless Claims, and Manufacturing PMI data. Matt Bacon-Hall of FXBeat comments, “Liquidity will pick up next week, as we all shake off this stop/start holiday malaise.”
What are today’s USD/JPY key levels?
Hourly RSI sits at 64 and gently climbing, with ADX at 20 and neutral. The hourly 200 SMA sits at 104.75 and is sloping higher, with the 20D EMA at 103.88. The daily pivot point sits at 105.31, providing near support, with next support below at 105.21 (S1) and resistance above at 105.41 (R1). The range between 105.40-74 should offer technical resistance, with a number of levels clustered. Below, the range between 105.38-04 offers equivalent support.