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18 Mar 2014
USD/JPY bounced back to 101.50 area
FXstreet.com (Moscow) – USD/JPY was on the way higher, starting the day at 101.72, reaching 101.93 high, but retraced back to 101.52 low by the moment.
Mr. Putin’s speech
USD/JPY was trying to grind higher in the morning though already slowly and with hesitation. It made a quick jump to 101.93 session high, but offers ahead of 102 held it here, and threw it back to 101.50 area. Although the sigh of relief brought the broad based interest to riskier assets, the move may have a short-term nature, as the conflict is still there, and it’s Russia’s turn to play. The scheduled for 11.00 GMT Mr. Putin’s speech may clear up the picture of further strategy. If the market finds any hints on escalation of the conflict, or will get new information of the response measures to the EU, and the USA, wait for another sell-off with initial target at 101.39 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.64, with support below at 101.39, 101.00 and 100.75, with resistance above at 102.02, 102.27, and 102.66. Hourly Moving Averages are mixed, with the 200SMA at 102.57 and the daily 20EMA at 102.39. Hourly RSI is neutral at 55.
Mr. Putin’s speech
USD/JPY was trying to grind higher in the morning though already slowly and with hesitation. It made a quick jump to 101.93 session high, but offers ahead of 102 held it here, and threw it back to 101.50 area. Although the sigh of relief brought the broad based interest to riskier assets, the move may have a short-term nature, as the conflict is still there, and it’s Russia’s turn to play. The scheduled for 11.00 GMT Mr. Putin’s speech may clear up the picture of further strategy. If the market finds any hints on escalation of the conflict, or will get new information of the response measures to the EU, and the USA, wait for another sell-off with initial target at 101.39 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.64, with support below at 101.39, 101.00 and 100.75, with resistance above at 102.02, 102.27, and 102.66. Hourly Moving Averages are mixed, with the 200SMA at 102.57 and the daily 20EMA at 102.39. Hourly RSI is neutral at 55.