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14 May 2014
USD/JPY slid to 101.80 depressed by GBP/JPY moves
FXStreet (Moscow) - USD/JPY managed to break below the strong support at 102.00, and slid down reaching session low at 101.82 by the moment.
Yen got its pants back
The broad strength of the Yen is noted in different currency pairs starting from USD/JPY and ending with GBP/JPY. The move down of the latter is exacerbated by the weaker than expected UK Labor data, and may become the trigger of the broad yen demand. As for USD/JPY, the sellers tripped large stops below 102.00, and initially moved to 101.95. However, the more selling interest was met around as the traders are still not sure who wears the pants in the pair for now. For now, 101.90 area is a strong support, however, if broken, the move may gather pace with sell stops noted through 101.80, 101.60 and 101.50.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.23, with support below at 102.08, 101.91 and 101.76 with resistance above at 102.41, 102.56, and 102.73. Hourly Moving Averages are mixed, with the 200SMA at 101.97 and the daily 20EMA at 102.17. Hourly RSI is bearish at 46
Yen got its pants back
The broad strength of the Yen is noted in different currency pairs starting from USD/JPY and ending with GBP/JPY. The move down of the latter is exacerbated by the weaker than expected UK Labor data, and may become the trigger of the broad yen demand. As for USD/JPY, the sellers tripped large stops below 102.00, and initially moved to 101.95. However, the more selling interest was met around as the traders are still not sure who wears the pants in the pair for now. For now, 101.90 area is a strong support, however, if broken, the move may gather pace with sell stops noted through 101.80, 101.60 and 101.50.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.23, with support below at 102.08, 101.91 and 101.76 with resistance above at 102.41, 102.56, and 102.73. Hourly Moving Averages are mixed, with the 200SMA at 101.97 and the daily 20EMA at 102.17. Hourly RSI is bearish at 46