USD/JPY ignored Kuroda, but edging above 102.90

By FXstreet.com | July 31, 2014 AAA

FXStreet (Moscow) - USD/JPY opened at 102.79, slid to 102.73 in order to rebound back to 102.90 area.



On the way to 103.00



The just released BOJ’s Kuroda speech didn’t have specific impact on the pair, although it did hint on the possible weakness from consumption tax hike ahead. We need to pay attention to Japanese data further out. However, the pair is absolutely focused on US economic events, and the labor market is in the center of all. The already released leading indicators for the Non-Farm Payrolls in form of ADP, Challenger and Jobless Claims paint mixed picture, and it means the market reaction will be more volatile than usual. Stronger than expected numbers may help the pair to settle above 103.00.



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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