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18 Mar 2014
USD/JPY rejected by 102.00
FXStreet (Córdoba) - The USD/JPY resumed the downside Tuesday as failure to retake the 102.00 mark put the pair back under pressure.
The USD/JPY found strong resistance at the 102.00 area and turned south, falling all the way back to the 101.30 zone amid risk aversion. At time of writing, the USD/JPY is trading at 101.40, still % below its opening price. Today during the New York session, the US will release February CPI and housing data, but investors' focus remains on tomorrow's Fed decision.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate supports at 101.26 (Mar 14 low), 101.00 (psychological level) and 100.77 (2014 low Feb 3). On the flip side, resistances are seen at 101.93 (Mar 18 high), 102.23 (100-day SMA) and 102.85 (Mar 13 high).
The USD/JPY found strong resistance at the 102.00 area and turned south, falling all the way back to the 101.30 zone amid risk aversion. At time of writing, the USD/JPY is trading at 101.40, still % below its opening price. Today during the New York session, the US will release February CPI and housing data, but investors' focus remains on tomorrow's Fed decision.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate supports at 101.26 (Mar 14 low), 101.00 (psychological level) and 100.77 (2014 low Feb 3). On the flip side, resistances are seen at 101.93 (Mar 18 high), 102.23 (100-day SMA) and 102.85 (Mar 13 high).