USD/JPY is at the point of obsession with 102.00

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - USD/JPY opened the day at 101.81, reached 102.07 session high, and is hesitating a bit lower at the moment



It’s time to leave 102

Nikkei closed up 0.29% at 14,975.97, but hardly helped the pair to regain the lost 102 territory. The pair has long been playing with mentioned area going back and forth on market sentiment, and practically ignoring the fundamentals. Nevertheless, the looming FOMC meeting may be of interest, as it may show some changes in US economy outlook. The scheduled for release tonight CPI data may support the aggressive expectations of the market if the index comes out above expectations. The nearest resistance level in this case may be located at 102.28.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.89, with support below at 101.67, 101.49 and 101.27 with resistance above at 102.06, 102.28, and 102.46. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.22 and the daily 20EMA at 102.08. Hourly RSI is bullish at 66.



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