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28 Feb 2014
USD/JPY slowly toward 102.00
FXStreet (Guatemala) - USD/JPY has opened on the offer towards 102.00 from sideways channels resistance line at 102.20.
A number of data releases for Japan were released before the Tokyo fix with Japan's Industrial Production at 4.0% m/m vs 2.8% expected and Japan's Retails Sales for Jan at1.4% vs 1.3% m/m and Year-on-year 4.4% vs 3.8% expected.
Japan unemployment unchanged at 3.7% with the number of jobless declining in January for the 44th consecutive month.Meanwhile, FX Strategists at the Bank of Tokyo Mitsubishi UFJ said, "In Japan, many of the large scale enterprises are likely to increase wage and break even rate simultaneously. Japan's trade deficit for January reached JPY 2 trillion. The lower side of USD/JPY was limited. Last week, overseas investors started again Japanese equity buying."
USD/JPY Levels
The 20 DMA is 102.15, the 50 DMA is 103.35 and the 200 DMA is 100.19. RSI (14) reads 51.59. Supports are ascending from 101.53, 101.67, 102.01. Spot is 102.05 while resistances are 102.40 102.47, 102.72, 102.85 and 102.94.
A number of data releases for Japan were released before the Tokyo fix with Japan's Industrial Production at 4.0% m/m vs 2.8% expected and Japan's Retails Sales for Jan at1.4% vs 1.3% m/m and Year-on-year 4.4% vs 3.8% expected.
Japan unemployment unchanged at 3.7% with the number of jobless declining in January for the 44th consecutive month.Meanwhile, FX Strategists at the Bank of Tokyo Mitsubishi UFJ said, "In Japan, many of the large scale enterprises are likely to increase wage and break even rate simultaneously. Japan's trade deficit for January reached JPY 2 trillion. The lower side of USD/JPY was limited. Last week, overseas investors started again Japanese equity buying."
USD/JPY Levels
The 20 DMA is 102.15, the 50 DMA is 103.35 and the 200 DMA is 100.19. RSI (14) reads 51.59. Supports are ascending from 101.53, 101.67, 102.01. Spot is 102.05 while resistances are 102.40 102.47, 102.72, 102.85 and 102.94.