14 Apr 2014
USD/JPY comes with a neutral bias
FXStreet (Guatemala) - Currently, USD/JPY is trading at 101.51, down -0.07% on the day, having posted a daily high at 101.67 and low at 101.42.
USD/JPY, trading in a tight range at the start of he week has held the downside from last weeks tumble and, if there is to be an upside correction for the dollar, strategists at Brown Brothers Harriman said that it would likely encounter initial resistance near JPY102, which corresponds to the 5-day moving average. The dollar has not closed above it since April 3.
Daily RSI sits at 40.55, in neutral territory
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. Currently RSI is at 50.61, up from the last hourly print at 47.72, with ADX at 13.02, down from its previous close at 16.69. Looking to momentum indicators, the hourly 200 SMA is currently at 101.63, down from the last close at 102.81 and declining. Over the past 20 days, the exponential average closing price is 102.47, and trending lower.
USD/JPY Levels
Current price is 101.53, with resistance ahead at 101.53 (Weekly Low), 101.56 (Hourly 20 EMA), 101.60 (Daily Classic PP), 101.65 (Daily Open) and 101.67 (Daily High). Next support to the downside can be found at 101.42 (Daily Low), 101.36 (Monthly Low), 101.32 (Yesterday's Low), 101.32 (Daily Classic S1) and 101.04 (Daily Classic S2).
USD/JPY, trading in a tight range at the start of he week has held the downside from last weeks tumble and, if there is to be an upside correction for the dollar, strategists at Brown Brothers Harriman said that it would likely encounter initial resistance near JPY102, which corresponds to the 5-day moving average. The dollar has not closed above it since April 3.
Daily RSI sits at 40.55, in neutral territory
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. Currently RSI is at 50.61, up from the last hourly print at 47.72, with ADX at 13.02, down from its previous close at 16.69. Looking to momentum indicators, the hourly 200 SMA is currently at 101.63, down from the last close at 102.81 and declining. Over the past 20 days, the exponential average closing price is 102.47, and trending lower.
USD/JPY Levels
Current price is 101.53, with resistance ahead at 101.53 (Weekly Low), 101.56 (Hourly 20 EMA), 101.60 (Daily Classic PP), 101.65 (Daily Open) and 101.67 (Daily High). Next support to the downside can be found at 101.42 (Daily Low), 101.36 (Monthly Low), 101.32 (Yesterday's Low), 101.32 (Daily Classic S1) and 101.04 (Daily Classic S2).