USD/JPY keeps jogging around recent lows

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - USD/JPY opened the day at 101.94, slid to 101.81 session low, but rebounded a bit by the moment.



This is why…



The market is fully absorbed by the issue of too dovish Janet, and not too optimistic US economy outlook. This is why stock markets are at record highs, and USD/JPY dived under 102.00 area again. Although the chances of further USD sell-off are not very high given the absence of any economic catalysts, and the neighborhood of weekend, the pair still may have some troubles with positioning above 102.00 on empty economic calendar.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.90, with support below at 101.79, 101.62 and 101.50 with resistance above at 102.07, 102.19, and 102.36. Hourly Moving Averages are bearish, with the 200SMA at 102.05 and the daily 20EMA bearish at 102.06. Hourly RSI is bearish at 45.



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