USD/JPY sunbathes on the roof of recent range

By FXstreet.com | July 07, 2014 AAA

FXStreet (Moscow) - USD/JPY opened the day at 102,04, reached session high at 102.19, and went back to the open levels again.



Waiting for comments



The pair is still above 102.00, but its positions look very fragile, especially on the back of practically empty calendar. However, the USD still has the chances to get a new surge of demand provided scheduled for release this week FOMC minutes will be more aggressive than usual. Any hints from monetary authorities on stronger economic recovery in store may become another reason to buy the pair. It did try to resume the rise on the news about revised forecasts from Goldman, and may show some new attempts soon. The initial target to the upside may lie at 102.41 resistance level.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 102.11, with support below at 101.94, 101.80 and 101.64 with resistance above at 102.25, 102.41, and 102.55. Hourly Moving Averages are bullish, with the 200SMA at 101.72 and the daily 20EMA at 101.87. Hourly RSI is bullish at 57.



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center