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11 Mar 2014
USD/JPY quiet ahead of BoJ
FXStreet (Córdoba) - The USD/JPY remains quiet early in Asia hovering around 103.25, ahead of BOJ decision on monetary policy. The pair ended Monday practically unchanged from Friday’s closing price after erasing losses.
During the Asian session reached levels below 103.00 but rebounded rising back to the 103.30 zone. The US dollar peaked at 103.40 before Wall Street’s opening bell and then pulled back finding support at 103.15.
USD/JPY technical outlook
“The hourly chart shows a slightly positive tone prevailing, albeit the lack of reaction in price suggests investors have switched to waiting mode, ahead of a clearer local fundamental picture”, says ">Valeria Bednarik, Chief Analyst at FXStreet.
According to Bednarik, support levels lie at 103.10, 102.80 and below here at 102.50 while to the upside, she sees resistance at 103.45, 103.90 and 104.40.
During the Asian session reached levels below 103.00 but rebounded rising back to the 103.30 zone. The US dollar peaked at 103.40 before Wall Street’s opening bell and then pulled back finding support at 103.15.
USD/JPY technical outlook
“The hourly chart shows a slightly positive tone prevailing, albeit the lack of reaction in price suggests investors have switched to waiting mode, ahead of a clearer local fundamental picture”, says ">Valeria Bednarik, Chief Analyst at FXStreet.
According to Bednarik, support levels lie at 103.10, 102.80 and below here at 102.50 while to the upside, she sees resistance at 103.45, 103.90 and 104.40.