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21 Feb 2014
USD/JPY breaking up post BoJ minutes and Tokyo open
FXStreet (Guatemala) - USD/JPY is marginally better bid on 102.30/40’s, attempting to break out of the 20 pip range post BoJ Minutes which said Japan's economy is expected to continue a moderate recovery.
The session doesn’t hold any further releases and ‘range bound’ maybe be the theme ahead of this weeks close. From the calendar earlier on, USD/JPY had been performing well on a surprisingly robust Markit Manufacturing PMI for Feb read 56.7 vs 53.0 and 53.7 previous. Consumer confidence disappointed at -12.7 vs -11.25 consensus and also the Philly Fed came in lower at -6.3 vs a consensus of 8.0.
USD/JPY Levels
The 20 DMA is 102.23, the 50 DMA is 103.41 and the 200 DMA is 100.19. RSI (14) reads 57.54. Supports are ascending from 101.84, 101.92 and 102.35. Spot is 102.40 while resistances are 102.74 and 103.78.
The session doesn’t hold any further releases and ‘range bound’ maybe be the theme ahead of this weeks close. From the calendar earlier on, USD/JPY had been performing well on a surprisingly robust Markit Manufacturing PMI for Feb read 56.7 vs 53.0 and 53.7 previous. Consumer confidence disappointed at -12.7 vs -11.25 consensus and also the Philly Fed came in lower at -6.3 vs a consensus of 8.0.
USD/JPY Levels
The 20 DMA is 102.23, the 50 DMA is 103.41 and the 200 DMA is 100.19. RSI (14) reads 57.54. Supports are ascending from 101.84, 101.92 and 102.35. Spot is 102.40 while resistances are 102.74 and 103.78.