The UsdJpy is trading at 97.93, ranging between 97.32 and 97.97, over yesterday's closing price at 97.39. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
As the resistance at 95.95 (November 26th high) was broken, the traders are watching the next at 97.43 (November 24h high) and 100.00 (key). The supports are set at 92.54 (February 20th low), 91.43 (February 16th low) and 90.00 (key).
Once again, the bad macro data hurt the Yen. Tonight, the UsdJpy market will know the employment data, that promise to show a large weakness in the labour market, as well as the consumer prices that keep going down. As a consequence, the Dollar is climbing 0.33% against the Yen, influenced by the appetite for high yielders.
The stocks climbed for the first time in five days, as the Royal Bank of Scotland Plc. posted smaller than expected losses in the fourth quarter and accepted a new government aid worth 325.000 million Pounds. This has brought tranquility to the credit markets.
Manwhile, the 60-minute Relative Strenght Index (RSI) is at 59 points, after being very overbought. The average volatility per hour is 145 pips, with the price between the upper and medium range. Checking the graphics again, we see that the current price is under the 23.60% (130.80) and over the 0.00% (80.23) Fibonacci retracement lines.
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