USD/JPY ignored Kuroda, but edging above 102.90

By FXstreet.com | Updated 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.



Related Forex Analysis
  1. USD/JPY breaks above 112.00
    Forex News

    USD/JPY breaks above 112.00

  2. BoJ steps up JGB purchases - BNP Paribas
    Forex News

    BoJ steps up JGB purchases - BNP Paribas

  3. BoJ Jumps the Shark as JPY Implodes on Surprise Easing
    Forex News

    BoJ Jumps the Shark as JPY Implodes on Surprise Easing

  4. USD/JPY unstoppable, closer to 112.00
    Forex News

    USD/JPY unstoppable, closer to 112.00

  5. Markets surprised by new round of BoJ stimulus - BTMU
    Forex News

    Markets surprised by new round of BoJ stimulus - BTMU

Trading Center