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3 Apr 2014
USD/JPY: 104.00 breakout true or false?
FXStreet (Moscow) - USD/JPY is retracing from intraday high at 104.06, but the bulls are still strong
USD/JPY bulls are on the assault again.
The USD/JPY absorbed offered on approach to 104.00 and rushed to intraday high at 104.06. It looks like a technical breakout so far, so wee need to see whether the pair manages to stay above the pivotal level of 104.00. The market stops clustered at 104.20 might serve as the next hurdle for the bulls. Anyway, if the pair returns below 104.00 any time soon, the breakout will be considered false and the downside correction may be triggered.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.81, with support below at 103.66, 103.44 and 103.29 with resistance above at 104.03, 104.18, and 104.40. Hourly Moving Averages are bullish, with the 200SMA at 102.73 and the daily 20EMA at 102.63. Hourly RSI is neutral at 66
USD/JPY bulls are on the assault again.
The USD/JPY absorbed offered on approach to 104.00 and rushed to intraday high at 104.06. It looks like a technical breakout so far, so wee need to see whether the pair manages to stay above the pivotal level of 104.00. The market stops clustered at 104.20 might serve as the next hurdle for the bulls. Anyway, if the pair returns below 104.00 any time soon, the breakout will be considered false and the downside correction may be triggered.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.81, with support below at 103.66, 103.44 and 103.29 with resistance above at 104.03, 104.18, and 104.40. Hourly Moving Averages are bullish, with the 200SMA at 102.73 and the daily 20EMA at 102.63. Hourly RSI is neutral at 66