Angry bears drive USD/JPY to 102.00 support

By FXstreet.com | July 20, 2014 AAA

FXStreet (Moscow) - USD/JPY dipped from the opening level of 101.33 to the bespoke support of 101.20 and it seems that the bears are not satisfied with what has already been achieved



To risk or not to risk



USD/JPY has a potential to continue falling to new lows this week as geopolitical risks are high, while global investors fell more inclined to find safer placed to park their assets. On the intraday basis the macroeconomic calends is next to empty, so the pair might spend a day in a range limited by 101.00 on the downside and 101.50 on the upside. Though details about Malaysian passenger jet tragedy might increase the dons wide pressure on USD/JPY.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.30, with support below at 101.14, 100.93 and 100.77 with resistance above at 101.52, 101.68, and 101.89. Hourly Moving Averages are bearish, with the 200SMA at 101.49 and the daily 20EMA at 101.63. Hourly RSI is bearish at 40.



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