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13 Mar 2014
USD/JPY finds support at 20-day SMA
FXStreet (Córdoba) - The USD/JPY remains in corrective mode Thursday, slowly pulling back from last week's post nonfarm payrolls high.
Price action however has been pretty subdued for the USD/JPY, with the pair only retreating modestly and the BoJ decision having virtually no impact. The USD/JPY is currently trading at the 102.55 zone, recording its third daily decline in a row, after being rejected from a high of 103.75 Friday. During the New York session the US will release jobless claims figures and February retail sales, which could provide fresh momentum to the USD/JPY.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 102.40 (Mar 13 low/20-day SMA), 102.10 (100-day SMA) and 102.00 (psychological level). On the other hand, resistances are seen at 102.85 (Mar 13 high), 103.00 (psychological level) and 103.40 (Mar 10 & 11 highs).
Price action however has been pretty subdued for the USD/JPY, with the pair only retreating modestly and the BoJ decision having virtually no impact. The USD/JPY is currently trading at the 102.55 zone, recording its third daily decline in a row, after being rejected from a high of 103.75 Friday. During the New York session the US will release jobless claims figures and February retail sales, which could provide fresh momentum to the USD/JPY.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 102.40 (Mar 13 low/20-day SMA), 102.10 (100-day SMA) and 102.00 (psychological level). On the other hand, resistances are seen at 102.85 (Mar 13 high), 103.00 (psychological level) and 103.40 (Mar 10 & 11 highs).