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10 Feb 2014
USD/JPY testing the downside
FXStreet (Guatemala) - USD/JPY is treading down on the 102 handle and a break there could have the bears sharpening their knives ahead of 101.80 and 101.40 zone.
The cross dropped despite USD/JPY falling back to 102.00 ahead of 101.99 the low as Japan’s current account deficit widened to a record level. Strategist at RBS noted that this week sees new Fed Chair Yellen update markets on the outlook for monetary policy during her Semi Annual testimony. “We expect her to embed the Fed's dovish policy stance”.
USD/JPY Levels
The 20 DMA is 103.00, the 50 DMA is 103.47 and the 200 DMA is 100.11. RSI (14) reads 31.68. Supports are ascending from 101.25, 101.35,
101.77, 102.01 while resistances ar, 102.77, 102.94, 103.11 and 103.45.
The cross dropped despite USD/JPY falling back to 102.00 ahead of 101.99 the low as Japan’s current account deficit widened to a record level. Strategist at RBS noted that this week sees new Fed Chair Yellen update markets on the outlook for monetary policy during her Semi Annual testimony. “We expect her to embed the Fed's dovish policy stance”.
USD/JPY Levels
The 20 DMA is 103.00, the 50 DMA is 103.47 and the 200 DMA is 100.11. RSI (14) reads 31.68. Supports are ascending from 101.25, 101.35,
101.77, 102.01 while resistances ar, 102.77, 102.94, 103.11 and 103.45.