USD/JPY - I’ve got to be free!

By FXstreet.com | July 08, 2014 AAA

FXStreet (Moscow) - USD/JPY opened the day at 101,84, slid to 101.68 session low, and went back to the open levels again.



The USD-Optimist Club



The pair again slipped below 102.00, although the US Dollar has shown some resilience recently. The growing market confidence in the stronger recovery of American economy is fueled by a series of forecast revisions from large financial organizations, like it was with Goldman which joined the club of those predicting the first hike in 2015 rather than in 2016. All of this may help the pair reverse the move, and climb higher very soon, and if so, the initial target to the upside may be seen at 102.13.

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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