USD/JPY failed to break above 102.00, but may try again

By FXstreet.com | Updated July 29, 2014 AAA

FXStreet (Moscow) - USD/JPY opened at 101.85, rose to 102.00 session high, tried to break above, but failed and slid to 101.90 area at the moment.



Who is the riskier one?



USD/JPY still has a desire to go higher, though escalation of tension between Russia and the Western countries works as a barrier for the move up. The yen is still perceived as a less risky asset than the USD, thus, every time the geopolitical risks are rising, the pair comes under pressure. If the markets stay calm, pay attention to the released tonight US Consumer Confidence that may confirm the recovery in consumption sector, and support the pair move to 102.11 resistance.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.84, with support below at 101.76, 101.67 and 101.59 with resistance above at 101.94, 102.02, and 102.11. Hourly Moving Averages are bullish, with the 200SMA bullish at 101.55 and the daily 20EMA bullish at 101.86. Hourly RSI is bullish at 69.



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