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15 May 2014
USD/JPY managed to get back above 102.00
FXStreet (Moscow) - USD/JPY managed to break back above 102.00, reaching 102.11 session high at the Europe open.
CPI may strengthen the USD positions
The pair finally managed above 102.00 on European open with no particular reason, even though the pair was not able to do it yesterday on better than expected US PPI data confirming the third straight month of the rise. Today the inflation theme will continue with the American CPI readings that also may prove to be better than expected, if producers started to transfer the basic price pressure to consumers. If so, it may help the pair to get some interest with initial target at 102.55 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.97, with support below at 101.64, 101.39 and 101.06 with resistance above at 102.22, 102.55, and 102.80. Hourly Moving Averages are mixed, with the 200SMA at 101.92 and the daily 20EMA at 102.14. Hourly RSI is bearish at 44
CPI may strengthen the USD positions
The pair finally managed above 102.00 on European open with no particular reason, even though the pair was not able to do it yesterday on better than expected US PPI data confirming the third straight month of the rise. Today the inflation theme will continue with the American CPI readings that also may prove to be better than expected, if producers started to transfer the basic price pressure to consumers. If so, it may help the pair to get some interest with initial target at 102.55 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.97, with support below at 101.64, 101.39 and 101.06 with resistance above at 102.22, 102.55, and 102.80. Hourly Moving Averages are mixed, with the 200SMA at 101.92 and the daily 20EMA at 102.14. Hourly RSI is bearish at 44