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Forex pairs in this Article » USD/JPY
FXStreet (Guatemala) - USD/JPY is picking up in Asia ahead of Tokyo, pushing through the 102 handle.

USD/JPY had otherwise been a quiet play post the run up from the 101.50’s to attempt the 102 handle. Today, we see the BoJ interest rate decision and policy statement but comes, as Sean Callow, analyst at Westpac Banking Corporation ABN explained, once again with no tension over the decision and only mild interest in the statement and subsequent press conference. “The decision time is not fixed as usual but the past several meetings have concluded in the 11:30am-12:30pm Tokyo range (1:30-2:30pm Syd)”. Technically, Karen Jones, Head of FICC Technical Analysis and Alex Rudolph, senior Technical analyst explained that USD/JPY continues to ease back from the 20 day ma, this is currently located at 102.42, and they would allow for some near term slippage. “We have some conflicting signals however, with a multitude of supports between 101 and 100, we look for this ‘zone’ to again hold. This area is also reinforced by the 200 day m.a. at 100.19 and the 55 week ma at 99.23. Rallies will find stronger resistance at 102.42, 103.45 (20 day ma day ma and 29th Jan high). This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”.

USD/JPY Levels

The 20 DMA is 102.55, the 50 DMA is 103.46 and the 20 DMA is 100.18. RSI (14) reads 74.78. Supports are ascending from ,100.76, 101.07, 101.25 and 101.38. Spot is 102.15 while next resistance comes in at 102.41.
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