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4 Jun 2014
USD/JPY is playing muscles around 102.60
FXStreet (Moscow) - USD/JPY opened the day at 102.50, reached 102.79 high, but retreated to 102.60 area by the moment.
The way higher is paved with US data
USD/JPY is very confident and purposeful in its move higher, as if there was no useless and countless attempts to break above 102.00 during the last two weeks. The Nikkei rise, and the positive economic data out of the US is the required recipe for further rise. Today, the market may focus its attention on Non-Manufacturing ISM data, and really strong rise of employment component is needed to see new highs in the pair. The next target to the upside may be at 102.94 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.45, with support below at 102.33, 102.14 and 102.02 with resistance above at 102.63, 102.75, and 102.94. Hourly Moving Averages are bullish, with the 200SMA at 101.95 and the daily 20EMA at 101.96. Hourly RSI is bullish at 69.
The way higher is paved with US data
USD/JPY is very confident and purposeful in its move higher, as if there was no useless and countless attempts to break above 102.00 during the last two weeks. The Nikkei rise, and the positive economic data out of the US is the required recipe for further rise. Today, the market may focus its attention on Non-Manufacturing ISM data, and really strong rise of employment component is needed to see new highs in the pair. The next target to the upside may be at 102.94 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.45, with support below at 102.33, 102.14 and 102.02 with resistance above at 102.63, 102.75, and 102.94. Hourly Moving Averages are bullish, with the 200SMA at 101.95 and the daily 20EMA at 101.96. Hourly RSI is bullish at 69.