USD/JPY is pressured by Nikkei decrease, around 102.30

By FXstreet.com | Updated June 10, 2014 AAA

FXStreet (Moscow) - USD/JPY opened the day at 102.51, reached 102.23 low, and is trading somewhere around at the moment.



Stocks and credit



After several sessions of rise, Nikkei ended the day in red, losing 0.85%, and supporting the bid for the yen. Even yesterday USD/JPY was not able to show a full-blown rally on the rise of treasuries, although the buck did show some strength in most majors. The practically empty calendar continues to limit the range of the pair moves, and today is not an exception. The only catalysts for today moves are credit and stock markets, and positive developments coupled with the failure to break below 102.20 may help the pair recover with initial target at 102.52 resistance.

What are today’s key USD/JPY levels?



Today's central pivot point can be found at 102.52, with support below at 102.32, 102.23 and 102.09 with resistance above at 102.67, 102.81, and 102.96. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.24 and the daily 20EMA at 102.11. Hourly RSI is bearish at 32.



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