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4 Aug 2014
USD/JPY needs time to return to 102.80 pivot
FXStreet (Moscow) - USD/JPY is sidelined in a narrow 20-pips range with feeble bullish bias, though the key resistance of 102.80 is still out of reach.
Bullish attack is defeated at 103.00
USD/JPY disappointed those who hoped to see it closed above 102.80 on weekly basis. US Non-Parm Payroll numbers came out lower than expected, and pushed USD lower across the board. Anyway, the pair is still above 102.00 level and well positioned for further growth as JPY perspectives have darkened recently: BOJ might have to add stimulus to support the economy despite rather solid inflation numbers. From the technical point of view the key levels to watch today are: 102.80 on the upside and 102.30 on the downside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.67, with support below at 102.29, 101.96 and 101.58 with resistance above at 103.00, 103.38, and 103.71. Hourly Moving Averages are bullish, with the 200SMA bullish at 102.07 and the daily 20EMA bullish at 101.96. Hourly RSI is bearish at 47.
Bullish attack is defeated at 103.00
USD/JPY disappointed those who hoped to see it closed above 102.80 on weekly basis. US Non-Parm Payroll numbers came out lower than expected, and pushed USD lower across the board. Anyway, the pair is still above 102.00 level and well positioned for further growth as JPY perspectives have darkened recently: BOJ might have to add stimulus to support the economy despite rather solid inflation numbers. From the technical point of view the key levels to watch today are: 102.80 on the upside and 102.30 on the downside.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.67, with support below at 102.29, 101.96 and 101.58 with resistance above at 103.00, 103.38, and 103.71. Hourly Moving Averages are bullish, with the 200SMA bullish at 102.07 and the daily 20EMA bullish at 101.96. Hourly RSI is bearish at 47.