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20 May 2014
USD/JPY bears move slowly but steadily
FXStreet (Moscow) - USD/JPY got under pressure early in Europe as the pair retraced from Asian high of 101.58 and moved all the way down to 101.42
USD/JPY is the victim of DM slack
In the beginning of the year there was a perception that the developed economies epoch started, and the developing nations will be the ones to suffer. Nevertheless, the fundamentals show a different picture. While emerging markets are not feeling well, the DM is not booming either. The investors are disappointed with the growth rate of the American economy, and this is one of the reasons that supported the risk to safety recently – the US treasury yields only confirm the suggestion. It means that the pair may have hard time rising in the nearest future, thus, the further slide down is still not ruled out.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.40, with support below at 101.20, 100.89 and 100.69 with resistance above at 101.71, 101.91, and 102.22. Hourly Moving Averages are mixed, with the 200SMA at 101.78 and the daily 20EMA at 101.98. Hourly RSI is bullish at 55
USD/JPY is the victim of DM slack
In the beginning of the year there was a perception that the developed economies epoch started, and the developing nations will be the ones to suffer. Nevertheless, the fundamentals show a different picture. While emerging markets are not feeling well, the DM is not booming either. The investors are disappointed with the growth rate of the American economy, and this is one of the reasons that supported the risk to safety recently – the US treasury yields only confirm the suggestion. It means that the pair may have hard time rising in the nearest future, thus, the further slide down is still not ruled out.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.40, with support below at 101.20, 100.89 and 100.69 with resistance above at 101.71, 101.91, and 102.22. Hourly Moving Averages are mixed, with the 200SMA at 101.78 and the daily 20EMA at 101.98. Hourly RSI is bullish at 55