USD/JPY is in sleep mode; triggers are wanted

By FXstreet.com | July 22, 2014 AAA

FXStreet (Moscow) - USD/JPY is staying close to the opening level of 101.45 in a quiet and uneventful Asian session



No hope for breakthrough



USD/JPY finished three days in a row in the green zone, but the the pivotal resistance zone of 101.80-102.00 is still out of reach. Weaker than expected US CPI numbers destroyed nearly all intraday bullish achievement. The upside dynamics cannot gain momentum, thus without a good fundamental trigger the pair may soon return to the lower side of its current range. Alas, macroecomonic calendar is next to empty today. Barring a new geopolitical shock, USD/JPY is going to spend another dull day.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.47, with support below at 101.32, 101.18 and 101.03 with resistance above at 101.61, 101.76, and 101.90. Hourly Moving Averages are mixed, with the 200SMA bearish at 101.46 and the daily 20EMA flat at 101.59. Hourly RSI is bearish at 46.



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