FXStreet (Moscow) - USD/JPY poked at the resistance of 102.08, but failed to go through the area of stops and retraced to 101.80



USD/JPY is scared to rise



Revived by the World Bank fears of unstable recovery in the global economy is the key reason the pair is under pressure these days. While the BOJ positively surprises the market by not changing anything, the Fed disappoints the market with the same neutral stance. Given the uncertainty about the exact size of the American economy slack, it is difficult for the pair to show a full-blown rally, and now even harder given the revised down growth forecasts for the US economy (2.1% from 2.8% earlier).



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.82, with support below at 101.48, 101.27 and 100.93 with resistance above at 102.04, 102.38, and 102.59. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.36 and the daily 20EMA at 102.11. Hourly RSI is bearish at 42.



Related Articles
  1. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  2. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  3. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  4. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  5. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  6. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  7. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  8. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  9. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
  10. Forex News

    How The Forex "Fix" May Be Rigged

    When it comes to forex, some types of "fixes" are legal. But some really aren't.
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!