17 Jan 2014
USD/JPY flatlines into Europe
FXstreet.com (Barcelona) - USD/JPY extended its range since yesterdays US open, moving in a range between 104.41-104.18 overnight and into the European open.
USD/JPY disinterested
Overnight saw soft Japanese data, in the form of a decline in foreign investment in both Japanese Stocks and Bonds, alongside a dip in December Consumer Confidence. Nevertheless, USD/JPY persisted with its tight range, mirroring the Nikkei 225 which closed down just 0.08%. Applying a Fibonacci Retracement from the 105.29-102.84 decline, we see spot has been trading in and around the 61.8% mark at 104.36.
What are today´s key USD/JPY levels?
Hourly RSI sits at 44, and ranging, with ADX at 14. The daily pivot point can be found at 104.46, just above the overnight high, providing resistance. Support below can be seen at 103.99 (S1), 103.90 (Variety of bids), 103.66 (S2), 103.50-40 (Light Corporate Bids), 103.18 (S3), 103.10-00 (Option and Corporate bids), & 103.00 (Psychological and Sell Stops). Resistance above falls at 104.79 (R1), 104.90-105.00 (Exporter offers), 105.27 (R2), 105.30-50 (Japanese Exporter and option offers), 105.50 (Buy stops commence), & 105.60 (R3).
USD/JPY disinterested
Overnight saw soft Japanese data, in the form of a decline in foreign investment in both Japanese Stocks and Bonds, alongside a dip in December Consumer Confidence. Nevertheless, USD/JPY persisted with its tight range, mirroring the Nikkei 225 which closed down just 0.08%. Applying a Fibonacci Retracement from the 105.29-102.84 decline, we see spot has been trading in and around the 61.8% mark at 104.36.
What are today´s key USD/JPY levels?
Hourly RSI sits at 44, and ranging, with ADX at 14. The daily pivot point can be found at 104.46, just above the overnight high, providing resistance. Support below can be seen at 103.99 (S1), 103.90 (Variety of bids), 103.66 (S2), 103.50-40 (Light Corporate Bids), 103.18 (S3), 103.10-00 (Option and Corporate bids), & 103.00 (Psychological and Sell Stops). Resistance above falls at 104.79 (R1), 104.90-105.00 (Exporter offers), 105.27 (R2), 105.30-50 (Japanese Exporter and option offers), 105.50 (Buy stops commence), & 105.60 (R3).