FXStreet (Moscow) - USD/JPY opened the day at 101.89, and slid to 101.76 area by the moment.

The perfect dove

And again it is all about 102.00, and extremely low levels of volatility did all for the pair to stay in narrow ranges for such a long time even on quite significant catalyst. Just look, the market expected positive outlook and aggressive comments from the Fed, as previously released CPI data showed the price pressure rising above the target level. Janet Yellen remained the perfect dove, and the market was disappointed, but we only saw the pair losing about 40 pips on the news. Since there is nothing more to move on, the pair may react to stock market developments with 102,05 to the upside, and 101.55 to the downside to become initial targets.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.05, with support below at 101.74, 101.55 and 101.24 with resistance above at 102.23, 102.55, and 102.73. Hourly Moving Averages are bearish, with the 200SMA at 102.13 and the daily 20EMA bearish at 102.07. Hourly RSI is bearish at 39.

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