USD/JPY is under pressure with Europeans coming to desks

By FXstreet.com | June 19, 2014 AAA

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.



comments powered by Disqus
Related Forex Analysis
  1. Dollar Finds Capital Market Uncertainties Offset Wavering Fed Rhetoric
    Forex News

    Dollar Finds Capital Market Uncertainties Offset Wavering Fed Rhetoric

  2. US Dollar Pullback May Be Ahead, SPX 500 Slips Below 2000 Again
    Forex News

    US Dollar Pullback May Be Ahead, SPX 500 Slips Below 2000 Again

  3. US Dollar Technical Analysis: Bullish Momentum Fading?
    Forex News

    US Dollar Technical Analysis: Bullish Momentum Fading?

  4. Euro May Be Asymetrically Sensitive if PMI Data Tops Expectations
    Forex News

    Euro May Be Asymetrically Sensitive if PMI Data Tops Expectations

  5. EUR/USD stuck at 1.2850, new triggers are wanted
    Forex News

    EUR/USD stuck at 1.2850, new triggers are wanted

Trading Center