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10 Mar 2014
USD/JPY meeting supply 103.40
FXStreet (Guatemala) - USD/JPY is tailing off on the offer after a positive start in Europe for the week where the USD is favoured post positive jobs numbers from the end of last week.
The markets are taking the view that the Federal Reserve will continue its tapering programme and the USD/JPY was able to keep its foot in the door on the 103 handle, popping up to meet supply at 103.40 from starting out at 103 in Asia. Overnight, Japans data gave us Gross Domestic Product (GDP) that grew 0.2 pct in October-December, and posted a weak 0.7 pct annual growth.
USD/JPY Levels
The 20 DMA is 102.30, the 50 DMA is 103.08 and the 200 DMA is 100.21. RSI (14) reads 56.92. Supports are ascending from 102.24,102.46, 102.61 and 102.84. Spot is 103.23 with resistances at 103.42, 103.77, 103.87 and 104.00.
The markets are taking the view that the Federal Reserve will continue its tapering programme and the USD/JPY was able to keep its foot in the door on the 103 handle, popping up to meet supply at 103.40 from starting out at 103 in Asia. Overnight, Japans data gave us Gross Domestic Product (GDP) that grew 0.2 pct in October-December, and posted a weak 0.7 pct annual growth.
USD/JPY Levels
The 20 DMA is 102.30, the 50 DMA is 103.08 and the 200 DMA is 100.21. RSI (14) reads 56.92. Supports are ascending from 102.24,102.46, 102.61 and 102.84. Spot is 103.23 with resistances at 103.42, 103.77, 103.87 and 104.00.