6 Dec 2013
USD/JPY strides into European session
FXstreet.com (Barcelona) - Despite a brief dip at the open to post a low at 101.63, USD/JPY steadily climbed overnight to post a morning high at 102.21, just above where spot is presently trading at 102.45, up 0.45% on the days trading.
Yen slides on GPIF headlines
Overnight, USD/JPY slid on comments by the GPIF Chairman, who said that “Changes advised by panel will help support weak yen, GPIF should create new core portfolio by mid-2014, should reduce local bonds to as little as 35%, needs to start selling bonds now, should raise Japan stock holdings to 18% now with changes help support stock prices." Ahead, all eyes are focused on NFPs.
What are today’s key USD/JPY levels and patterns?
Today’s central pivot point is at 1001.92, with resistance above at 102.2297 (R1), 102.7648 (R2) and 103.0697 (R3), and support below at 101.3897 (S1), 101.0848 (S2) and 100.5497 (S3). Special attention should be paid to the range between 101.76-42 where several key levels are confluent. Further, a Shooting Star Candlestick pattern can be found in the 1 hour chart.
Yen slides on GPIF headlines
Overnight, USD/JPY slid on comments by the GPIF Chairman, who said that “Changes advised by panel will help support weak yen, GPIF should create new core portfolio by mid-2014, should reduce local bonds to as little as 35%, needs to start selling bonds now, should raise Japan stock holdings to 18% now with changes help support stock prices." Ahead, all eyes are focused on NFPs.
What are today’s key USD/JPY levels and patterns?
Today’s central pivot point is at 1001.92, with resistance above at 102.2297 (R1), 102.7648 (R2) and 103.0697 (R3), and support below at 101.3897 (S1), 101.0848 (S2) and 100.5497 (S3). Special attention should be paid to the range between 101.76-42 where several key levels are confluent. Further, a Shooting Star Candlestick pattern can be found in the 1 hour chart.