USD/JPY is waiting for US Labor data to break 102.00

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - USD/JPY opened the day at 101.76, reached session high at 101.94, but retreated a bit before the strong resistance level.



Leaving home



Thursday is going to be hot, at least we hope so, as too many very important events are here. The pair has already showed some agitation on ADP employment data release, and if Non-Farm Payrolls prove to be stronger than expected, the pair may finally fly out of the narrow cage, breaking the ceiling at 102.00. The initial target to the upside may lay at 102.41 resistance level.



What are today’s key USD/JPY levels?



Today's central pivot point can be found at 101.68, with support below at 101.50, 101.23 and 101.05 with resistance above at 101.96, 102.14, and 102.41. Hourly Moving Averages are mostly bullish, with the 200SMA at 101.69 and the daily 20EMA at 101.84. Hourly RSI is bullish at 62.



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