24 Apr 2014
USD/JPY goes back above 102.40
FXStreet (Moscow) - USD/JPY recovers from morning low at 102.24 reaching 102.40 area by the moment.
Ukrainian conflict. New stage
The pair came under pressure yesterday not because of the fundamentals but because of fears. Geopolitical tension is evolving to new stage, and the market gradually realizes that Ukraine is on the brink of full-blown civil war. As soon as investors lose the last doubts on that, we may see another wave of risk aversion which may bring the pair to recent lows around 101.40 area. Nevertheless, for now we may see some short-term recovery to initial resistance at 102.78.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.47, with support below at 102.24, 101.93 and 101.69 with resistance above at 102.78, 103.02, and 103.32. Hourly Moving Averages are mostly neutral, with the 200SMA at 102.21 and the daily 20EMA at 102.41. Hourly RSI is bullish at 52.
Ukrainian conflict. New stage
The pair came under pressure yesterday not because of the fundamentals but because of fears. Geopolitical tension is evolving to new stage, and the market gradually realizes that Ukraine is on the brink of full-blown civil war. As soon as investors lose the last doubts on that, we may see another wave of risk aversion which may bring the pair to recent lows around 101.40 area. Nevertheless, for now we may see some short-term recovery to initial resistance at 102.78.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.47, with support below at 102.24, 101.93 and 101.69 with resistance above at 102.78, 103.02, and 103.32. Hourly Moving Averages are mostly neutral, with the 200SMA at 102.21 and the daily 20EMA at 102.41. Hourly RSI is bullish at 52.