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14 Feb 2014
USD/JPY another spike, another 20 pips
FXStreet (Guatemala) - USD/JPY has popped up creating a high of 102.42 post the opening of the Nikkie after a lacklustre start in Asia.
USD/JPY’s scored a low of 101.70 in earlier sessions and the main event in the FX space was the poor US data, but regardless there really wasn’t a great deal going on but a spike on the Yen of 20 pips on a couple of occasions. Nevertheless, the pair recovered some ground and has been better bid since with a spike back onto the 102 handle again. From the calendar, poorer data that came today in the form of US retail sales contracted 0.4% inter-month during January, while excluding the Auto sector sales came in flat. Yellen’s testimony before the Senate Banking Committee has been rescheduled due to the impending snow-storm. Coming up we will have Chinas Consumer Price Index but, as Sean Callow, strategists at Westpac Banking Corporation ABN explained, “shouldn’t have much impact. Inflation isn’t a very pressing concern in China right now, with growth having decelerated and the stronger yuan helping cap inflation”.
USD/JPY Levels
The 20 DMA is 102.78, the 50 DMA is 103.46 and the 200 DMA is 100.16. RSI (14) reads 59. Supports are ascending from 101.25, 101.40, 101.77, 101.90. Spot is 102.30 while resistances are 102.41, 102.77, 102.94 and 103.45.
USD/JPY’s scored a low of 101.70 in earlier sessions and the main event in the FX space was the poor US data, but regardless there really wasn’t a great deal going on but a spike on the Yen of 20 pips on a couple of occasions. Nevertheless, the pair recovered some ground and has been better bid since with a spike back onto the 102 handle again. From the calendar, poorer data that came today in the form of US retail sales contracted 0.4% inter-month during January, while excluding the Auto sector sales came in flat. Yellen’s testimony before the Senate Banking Committee has been rescheduled due to the impending snow-storm. Coming up we will have Chinas Consumer Price Index but, as Sean Callow, strategists at Westpac Banking Corporation ABN explained, “shouldn’t have much impact. Inflation isn’t a very pressing concern in China right now, with growth having decelerated and the stronger yuan helping cap inflation”.
USD/JPY Levels
The 20 DMA is 102.78, the 50 DMA is 103.46 and the 200 DMA is 100.16. RSI (14) reads 59. Supports are ascending from 101.25, 101.40, 101.77, 101.90. Spot is 102.30 while resistances are 102.41, 102.77, 102.94 and 103.45.