5 Dec 2013
USD/JPY is scoring through resistance
FXstreet.com (London) - USD/JPY is attempting to move higher while the Foreign Bond Investment data printed Yen 65.5B and in Japan Stocks, Yen 368.7B.
For USD/JPY, the realisation that a QE taper in December is still possible as that key FOMC meeting approaches on 17th-18th December is likely encouraging some reduction in risk. Else where, the market got the beige book from the US when the Federal Reserve said gains in manufacturing, technology and housing fuelled “modest to moderate” economic growth from early October through mid-November.
USD/JPY Levels
The 20 DMA is 100.59, the 50 DMA is 99.03 and the 200 DMA is 98.40. RSI (14) reads 29.08. Supports are ascending from 101.43, 101.74, 101.91. Spot is 102.35 while resistances are 102.58, 102.84, 103.00, 103.18 and
103.38.
For USD/JPY, the realisation that a QE taper in December is still possible as that key FOMC meeting approaches on 17th-18th December is likely encouraging some reduction in risk. Else where, the market got the beige book from the US when the Federal Reserve said gains in manufacturing, technology and housing fuelled “modest to moderate” economic growth from early October through mid-November.
USD/JPY Levels
The 20 DMA is 100.59, the 50 DMA is 99.03 and the 200 DMA is 98.40. RSI (14) reads 29.08. Supports are ascending from 101.43, 101.74, 101.91. Spot is 102.35 while resistances are 102.58, 102.84, 103.00, 103.18 and
103.38.