USD/JPY bears aim at 102.00

By FXstreet.com | July 03, 2014 AAA

FXStreet (Moscow) - USD/JPY bears hope to return below 102.00, but they have managed to reach only 102.05 so far.



102.00 is a magnet



USD/JPY broke above 102.00 resistance level as USD bulls celebrated unexpectedly high payroll numbers published on Thursday. The pair gained above 40 pips on daily basis and closed at 102.18 after touching the intraday high of 102.26. Today the trading activity is going to be low as American markets are closed due to Independence day, which means that USD/JPY is likely to be rangebound with light bearish bias. From the technical point of view, 102.00 is the key. If the pair finishes week above this level, the short-term bullish sentiments will prevail.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 102.08, with support below at 101.86, 101.53 and 101.31 with resistance above at 102.41, 102.63, and 102.96. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.70 and the daily 20EMA at 101.87. Hourly RSI is bullish at 60.



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