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Forex pairs in this Article » USD/JPY (Moscow) – USD/JPY is rebounding from session low at 101.56 rising to 101.79 at the moment.

USD/JPY has another chance for slide down

USD/JPY did try to go higher at the open, but all it found were sellers above 102.30/35. Then was the sliding Nikkei which closed down 1.53% at 14,313.03 and ruined the last hope for rally of the pair. It got sold heavily, dropping more than 70 points stabilizing around 101.70 area. It’s true - the positions of the pair look unstable because of the USD fundamental weakness. Surprising decrease of retail sales by significant 0.4 per cent only supported the fears the US economy is slowing the growth pace. The scheduled for release Preliminary University of Michigan Consumer Sentiment may disappoint again, and this is another argument for selling the pair. In this case the initial target may be at 101.26 support level.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.16, with support below at 101.73, 101.26 and 100.83, with resistance above at 102.63, 103.06, and 103.53. Hourly Moving Averages are mostly bearish, with the 200SMA at 101.61 and the daily 20EMA at 102.66. Hourly RSI is neutral at 35.
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