USD/JPY may think of going back up

By FXstreet.com | July 10, 2014 AAA

FXStreet (Moscow) - USD/JPY stuck around 101.50 area, and is not able to break below, but not ready to go higher.



Last chance is lost
The pair has lost the last chance for this week to climb above 102.00 on the yesterday’s release of FOMC minutes. The moderate and rather mixed stance of the Committee members disappointed the USD bulls, and sent the pair tumbling to 101.50 area. Most market participants awaited more optimistic views on inflation and labor data, but haven’t got it from the release. Thus, the pair may stay below 102.00 for the time being waiting for new stronger catalysts.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.65, with support below at 101.43, 101.22 and 100.99 with resistance above at 101.86, 102.09, and 102.30. Hourly Moving Averages are bearish, with the 200SMA at 101.71 and the daily 20EMA at 101.84. Hourly RSI is bearish at 37.



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