FXStreet (Moscow) - USD/JPY opened at 101.66, added 10 pips, and moved back below 101.70 at the moment.

Too shy rally

The pair is gradually rising on global risk aversion related to new wave of rumors on Banco Espirito filing for bankruptcy. Besides, the oil to the fire was added by Janet Yellen during her testimony in Congress yesterday. She hinted on bubbles evolving in some stock sectors and admitted the inflation is not strong enough yet. All of this on the whole supported the interest to the USD, but the move of the pair was too shy to believe in some serious rally ahead. The initial target to the upside may lie at 101.82, while the downside may be protected by 101.49 support.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 101.62, with support below at 101.49, 101.30 and 101.17 with resistance above at 101.82, 101.95, and 102.14. Hourly Moving Averages are bullish, with the 200SMA at 101.67 and the daily 20EMA at 101.71. Hourly RSI is bullish at 63.

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. 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.
  4. 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 ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. Entrepreneurship

    Top Forex Trading Apps

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

You May Also Like

Trading Center