USD/JPY is ready to refresh July highs

By FXstreet.com | July 30, 2014 AAA

FXStreet (Moscow) - USD/JPY opened at 102.10, rose to 102.18 session high, and is on the way higher at the moment.



Buck is popular again!



USD/JPY finally managed to settle above 102.00, and yesterday’s stronger than expected Consumer Confidence data was one of the catalysts of such buck’s popularity. The market is starting to believe in US recovery, and price-in the looming tightening of monetary policy. The scheduled for today GDP data, and FOMC meeting may become the key catalysts of moves. The next target to the upside for the pair may be at 102.26 resistance.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 102.04, with support below at 101.90, 101.68 and 101.55 with resistance above at 102.26, 102.39, and 102.61. Hourly Moving Averages are bullish, with the 200SMA bullish at 101.61 and the daily 20EMA bullish at 101.69. Hourly RSI is bullish at 57.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center