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28 Feb 2014
USD/JPY finishing up below 102 on risk aversion
FXStreet (Guatemala) - USD/JPY has finished back below the 102 handle.
USD/JPY dropped back on dollar weakness when the Ukrainian president accused Russia of using the pretence of military exercises to invade and Said Russia seeks to annex Crimea. However, earlier in the session, USD/JPY reacted well to the data releases overall. First off, Personal Consumption Expenditures Prices and Core Personal Consumption Expenditures Prices for Q4 Q/Q started positively for the dollar as these beat expectations 1.0% vs 0.7% and 1.3% vs 1.1% respectively. However, the US Q4 GDP disappointed slightly as it only rose 2.4% vs a better expected 2.4%. Chicago PMI which was expected to ease to 56.4 in February from 59.6 in January beat expectations and read as 59.8. Then we had Michigan consumer sentiment at 14.55GMT, which as expected 81.3 but that came in as 81.6. Pending home sales disappointed -0.9
USD/JPY Levels
The 20 DMA is 102.12, the 50 DMA is 103.31 and the 200 DMA is 100.18. RSI (14) reads 54.40. supports are ascending from 101.07, 101.25, 101.38 and 101.60. Spot is 101.77. Resistances are 102.00, 102.22 102.47 and 102.68.
USD/JPY dropped back on dollar weakness when the Ukrainian president accused Russia of using the pretence of military exercises to invade and Said Russia seeks to annex Crimea. However, earlier in the session, USD/JPY reacted well to the data releases overall. First off, Personal Consumption Expenditures Prices and Core Personal Consumption Expenditures Prices for Q4 Q/Q started positively for the dollar as these beat expectations 1.0% vs 0.7% and 1.3% vs 1.1% respectively. However, the US Q4 GDP disappointed slightly as it only rose 2.4% vs a better expected 2.4%. Chicago PMI which was expected to ease to 56.4 in February from 59.6 in January beat expectations and read as 59.8. Then we had Michigan consumer sentiment at 14.55GMT, which as expected 81.3 but that came in as 81.6. Pending home sales disappointed -0.9
USD/JPY Levels
The 20 DMA is 102.12, the 50 DMA is 103.31 and the 200 DMA is 100.18. RSI (14) reads 54.40. supports are ascending from 101.07, 101.25, 101.38 and 101.60. Spot is 101.77. Resistances are 102.00, 102.22 102.47 and 102.68.