USD/JPY has stalled at minor resistance of 101.80

By FXstreet.com | July 07, 2014 AAA

FXStreet (Moscow) - USD/JPY has recovered from the Asian low of 101.67 and settled around minor resistance of 101.80.



Time to pay a visit to a lower side of the range



USD/JPY is firmly below 102.00, which means that the pair has entered a consolidation phase, where 102.00-102.19 is likely to cap the upside, while 101.20-10 will provide a good floor. Form the fundamental point of view, risk sentiments and FED rates expectations are what occupy investors’ minds nowadays. Slightly negative Japanese stock markets development this morning added pressure to USD/JPY, while positive results of USD bill auctions later today might serve as a reason for USD buying.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.95, with support below at 101.68, 101.51 and 101.24 with resistance above at 102.13, 102.40, and 102.57. Hourly Moving Averages are mostly bearish, with the 200SMA at 101.72 and the daily 20EMA at 101.89. Hourly RSI is bearish at 43.



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