Filed Under:
Forex pairs in this Article » USD/JPY (Moscow) - USD/JPY is nicely settled close to the opening level as the currency pair moves within a depressingly tight 20-pips range after the Asian markets opening.

USD/JPY is going nowhere

USD/JPY is going nowhere, consolidating right below the hourly 50EMA at 104.36. The Japanese government raised its assessment of the domestic economy today, it did not inspire the yen bulls, but the currency pair may come under pressure today if the Japan consumer confidence index published later today show that the Japanese are more optimistic about their economy. It is anticipated to improve to 43.2 in December from 42.5 in November. Though don’t count on a significant move as US publishes a number of important economic reports later today, which is likely to keep the pair in the consolidation mode. The downside will be limited by 104.00. On the upside, the closest resistance comes at 104.40.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 104.47, with support below at 103.99, 103.66 and 103.19, with resistance above at 104.80, 105.27, and 105.60. Hourly Moving Averages are mostly bearish, with the 200SMA at 104.35 and the daily 20EMA at 104.16. Hourly RSI is neutral at 41.91.
comments powered by Disqus