USD/JPY is closer to 103.00 every coming minute

By FXstreet.com | July 31, 2014 AAA

FXStreet (Moscow) - USD/JPY is on the way up from Asian low at 102.73 to 102.95 high by the moment.



On the way to 103.00



Nikkei closed Friday session losing 0.63% at 15523.11, however, it didn’t help the yen to recover recent losses, as the market awaits the key US release of the week. Most probably we won’t see much action during the European session. The volatility may grow closer to the American open, as Non-Farm Payroll numbers are on the agenda. The lack of traditional leading indicators (ISM employment components) only complicates the prediction task, rising the chances of high volatility upon the release.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 102.84, with support below at 102.67, 102.54 and 102.37 with resistance above at 102.96, 103.13, and 103.26. Hourly Moving Averages are bullish, with the 200SMA bullish at 101.94 and the daily 20EMA bullish at 101.90. Hourly RSI is bullish at 60.



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