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Forex pairs in this Article » USD/JPY (Moscow) – USD/JPY was range-bound during the Asian session, and it is still in the same mood in Europe trading around 102.50 at the moment.

USD/JPY strengthened on the sigh of relief

USD/JPY spent the Asian session in a narrow range, not able to progress above US highs in the early Asian morning, and floating around 102.50. Yesterday’s testimony didn’t help the pair to show breakouts. Everybody talked too much about what Jennet could say, and she preferred to keep silence on the most acute issues. She did give the market hope without saying a word on the pace of tapering, and targeted unemployment. Thus, the pair may continue the move higher on the sigh of relief though the upside may be limited by 102.87 resistance level, given the absence of any new catalysts.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.47, with support below at 102.22, 101.83 and 101.58, with resistance above at 102.87, 103.12, and 103.51. Hourly Moving Averages are bullish, with the 200SMA at 101.95 and the daily 20EMA at 102.68. Hourly RSI is neutral at 59.
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