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JPY Trading Outlook (24-02-2014)

USD/JPY: USD/JPY tested the daily Kijun at 102.80 but was unable to break through as market still sees continuous poor data from U.S even though FED tried to regain confidence on the overall U.S economy. Range trades still in play, need to break 102.80-85 for a new rally.

EUR/JPY: This pair rallied above its 55-DMA by 141.26 on the Ukraine agreement but will more likely to play in range if USD/JPY does not break new levels. Resistance at 141.75, Pivot at 140 and support at 139.50.

Back to JPY Trading Outlook Archive

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