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21 Apr 2014
USD/JPY resumes the upside
FXStreet (Córdoba) - The USD/JPY staged a mild correction during the European session after hitting a 2-week high of 102.70, but the downside was contained by 102.50.
The USD/JPY managed to resume the upside and is back headed north ahead of the New York opening although volume remains subdued as most European markets are closed due to the Easter Monday. At time of writing, the USD/JPY is trading at the 102.65, recording a 0.21% gain on the day.
During the American session watch for the Chicago Fed National Activity Index and the Conference Board leading index for the US.
USD/JPY technical levels
In terms of technical levels, if the USD/JPY breaks above 102.70, next resistances line up at 102.90 (100-day SMA) and 103.00 (psychological level). On the downside, supports are seen at 102.50 (intraday level), 102.37 (50-day SMA) and 102.00 (psychological level).
The USD/JPY managed to resume the upside and is back headed north ahead of the New York opening although volume remains subdued as most European markets are closed due to the Easter Monday. At time of writing, the USD/JPY is trading at the 102.65, recording a 0.21% gain on the day.
During the American session watch for the Chicago Fed National Activity Index and the Conference Board leading index for the US.
USD/JPY technical levels
In terms of technical levels, if the USD/JPY breaks above 102.70, next resistances line up at 102.90 (100-day SMA) and 103.00 (psychological level). On the downside, supports are seen at 102.50 (intraday level), 102.37 (50-day SMA) and 102.00 (psychological level).