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20 Feb 2014
USD/JPY meets supply at key resistance
FXStreet (Guatemala) - USD/JPY rallied from the off from 102.00 the figure pounding on the doors of 102.20 and headed towards 102.50.
USD/JPY has however, been held up there on supply since the dollar had been performing well on a surprisingly robust Markit Manufacturing PMI for Feb read 56.7 vs 53.0 and 53.7 previous. Consumer confidence disappointed at -12.7 vs -11.25 consensus and also the Philly Fed came in lower at -6.3 vs a consensus of 8.0 and this has seemed to attract some supply in on a key resistance area of 102.40/50. Up next BoJ minutes in Asia.
USD/JPY Levels
The 20 DMA is 102.23, the 50 DMA is 103.41 and the 200 DMA is 100.19. RSI (14) reads 57.54. Supports are ascending from 101.84, 101.92, 102.35, 102.47, 102.74 and 103.78.
USD/JPY has however, been held up there on supply since the dollar had been performing well on a surprisingly robust Markit Manufacturing PMI for Feb read 56.7 vs 53.0 and 53.7 previous. Consumer confidence disappointed at -12.7 vs -11.25 consensus and also the Philly Fed came in lower at -6.3 vs a consensus of 8.0 and this has seemed to attract some supply in on a key resistance area of 102.40/50. Up next BoJ minutes in Asia.
USD/JPY Levels
The 20 DMA is 102.23, the 50 DMA is 103.41 and the 200 DMA is 100.19. RSI (14) reads 57.54. Supports are ascending from 101.84, 101.92, 102.35, 102.47, 102.74 and 103.78.