USD/JPY slipped below 102.50…so far

By FXstreet.com | Updated August 14, 2014 AAA

FXStreet (Moscow) - USD/JPY managed to settle above 102.50, but not for long, as it turned around and slid to 102.46 by the moment.



Shyly and quietly



Despite the recent retreat back below 102.50, the pair is still on the rise edging higher, shyly, in tiny steps, but up. The fact that better than expected Japanese GDP, and worse than expected US Retail Sales were not able to stop the move is a positive sign, and we may continue to see higher highs every coming day. Today the market may focus on scheduled for release US Jobless Claims data, though we do not expect sharp moves given the second-tier nature of the report. The initial targets to the upside may lie at 102.58 and 102.74 resistances.



What are today’s key USD/JPY levels?



Hourly RSI is bullish and keeps rising reaching 72. Today's central pivot point can be found at 102.40, with support below at 102.24, 102.05 and 101.89 with resistance above at 102.58, 102.74, and 102.93. Hourly Moving Averages are bullish, with the 200SMA at 102.32 and the daily 20EMA bullish at 102.13.



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