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18 Mar 2014
USD/JPY ranging on 101 handle
FXStreet (Guatemala) - USD/JPY has kept to a tight range on the 101 handle. With a high printed so far of 101.96 when the pair was up to test territory in Europe through 102 but lacked conviction to make the handle and has been as low as 101.27 in North American trading.
Valeria Bednarik, chief analyst at FXStreet explained in her analysis that the USD/JPY held again above the 101.20 level but erased most of Monday gains, having been unable to advance beyond 101.85 static Fibonacci resistance for third day in a row. “The hourly chart shows 100 SMA now around the Fibo, reinforcing the strength of the level, while indicators head slightly higher still in negative territory. In the 4 hours chart the technical outlook is mildly bearish, supporting further falls ahead, eyeing 100.60/70 price zone as next key level to test”.
USD/JPY Levels
The 20 DMA is 102.33, the 50 DMA is 102.77 and the 200 DMA is 100.31. RSI (14) reads 41.10. Supports are ascending from 100.76, 101.07, and 101.15. Spot is 101.42while resistances are 101.55, 101.94, 102.15, 102.26 and 102.43.
Valeria Bednarik, chief analyst at FXStreet explained in her analysis that the USD/JPY held again above the 101.20 level but erased most of Monday gains, having been unable to advance beyond 101.85 static Fibonacci resistance for third day in a row. “The hourly chart shows 100 SMA now around the Fibo, reinforcing the strength of the level, while indicators head slightly higher still in negative territory. In the 4 hours chart the technical outlook is mildly bearish, supporting further falls ahead, eyeing 100.60/70 price zone as next key level to test”.
USD/JPY Levels
The 20 DMA is 102.33, the 50 DMA is 102.77 and the 200 DMA is 100.31. RSI (14) reads 41.10. Supports are ascending from 100.76, 101.07, and 101.15. Spot is 101.42while resistances are 101.55, 101.94, 102.15, 102.26 and 102.43.