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1 Apr 2014
USD/JPY remains firm in Tokyo on 103 handle
FXStreet (Guatemala) - Currently, USD/JPY is trading at 103.24, up 0.02% on the day, having posted a daily high at 103.29 and low at 103.16.
USD/JPY was slightly bid on a knee jerk reaction to the overall disappointing Tankan survey’s details (Tankan large manufacturing out look 8, median forecast 13) but the upside was short lived at the Tokyo open and we remain in a tight range.
USD/JPY neutral to bearish short-term indictors
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 48.23, down from 64.27 at the last hour close, while ADX is ranging at 16.61, down from 27.18 previous.
USD/JPY remains looking rangy ahead
Meanwhile, daily RSI is in neutral territory at 55.88. On the hourly USD/JPY chart, the 200 SMA is climbing and currently at 102.72, up from the previous hour close at 102.37. On average, the exponential closing price for the past 20 days is 102.30, with the trend indicating a range-bound movement ahead.
USD/JPY Levels
With spot trading at 103.24, we can see next resistance ahead at 103.29 (Daily High), 103.31 (Weekly Classic R1), 103.32 (Monthly High), 103.45 (Yesterday's High) and 103.58 (Daily Classic R2). Support below can be found at 103.22 (Daily Open), 103.20 (Daily Classic R1), 103.16 (Daily Low), 103.09 (Hourly 20 EMA) and 102.83 (Weekly High).
USD/JPY was slightly bid on a knee jerk reaction to the overall disappointing Tankan survey’s details (Tankan large manufacturing out look 8, median forecast 13) but the upside was short lived at the Tokyo open and we remain in a tight range.
USD/JPY neutral to bearish short-term indictors
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 48.23, down from 64.27 at the last hour close, while ADX is ranging at 16.61, down from 27.18 previous.
USD/JPY remains looking rangy ahead
Meanwhile, daily RSI is in neutral territory at 55.88. On the hourly USD/JPY chart, the 200 SMA is climbing and currently at 102.72, up from the previous hour close at 102.37. On average, the exponential closing price for the past 20 days is 102.30, with the trend indicating a range-bound movement ahead.
USD/JPY Levels
With spot trading at 103.24, we can see next resistance ahead at 103.29 (Daily High), 103.31 (Weekly Classic R1), 103.32 (Monthly High), 103.45 (Yesterday's High) and 103.58 (Daily Classic R2). Support below can be found at 103.22 (Daily Open), 103.20 (Daily Classic R1), 103.16 (Daily Low), 103.09 (Hourly 20 EMA) and 102.83 (Weekly High).