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Forex: USD/JPY flat above 93.50

With monetary base data in Japan just released showing the most increase YoY in 12 months at 15% when previous was 10.9% and expected 11.5%, and Nikkei index opening above the 11650 points up +0.68%, USD/JPY keeps flat for the moment from previous weekly close Friday, last at 93.56. The pair prints session lows at 93.35, and highs at 93.69, gaining +8.75% year to date, and +19.34% in last 6 months.

As Valeria Bednarik notes, Chief Analyst at Fxstreet.com, USD/JPY “established back above 100 and 200 SMA’s in the hourly chart, while both moving averages are slowly turning higher below current price as indicators stand flat in positive territory. So far, the pair has been limited by some selling interest in the 93.80 area. Investors will like await for Kuroda before taking decisions, yet the upside seems favored towards recent highs around 94.50,” the analyst says.

Valeria finds support levels at: 93.20, 93.70 and 92.40, while resistance levels at:  93.80, 94.10 and 94.50.

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