USD/JPY the big winner in Asia, 102.66 in focus

By FXstreet.com | August 13, 2014 AAA

FXStreet (Moscow) - USD/JPY is growing steadily in Asia; the bulls left 102.50 resistance behind and now aim at Asian high of 102.66.

JPY is on retreat once again

Geopolitics was all over the market place yesterday, though the news was so contradictory that it seems that investors had their heads spinning. USD/JPY spiked above 102.50 resistance for a short period of time despite awful US retail sales numbers as JPY was weakening across the board. Partially weak Japanese GDP numbers are behind the move as investors hope to see more QE from Bank of Japan. Technical factors are of great importance now as failure to settle above 102.50 on daily basis might push the pair to the lower side of its current range at 102.00, though another attack at the above said resistance might turn to be more successful. Once it is cleared out, 102.80 will come into play.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.40, with support below at 102.24, 102.05 and 101.89 with resistance above at 102.58, 102.74, and 102.93. Hourly Moving Averages are bullish, with the 200SMA bullish at 102.32 and the daily 20EMA bullish at 102.13. Hourly RSI is bullish at 69.

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