USD/JPY bears ahas stopped at 102.00

FXStreet (Moscow) - USD/JPY is drifting lower, but 102.00 support is kept intact

JPY is still on holiday

USD/JPY is rangebound in Asia today as Japanese markets are closed again today. Thus USD/JPY dynamics will be similar to yesterday movements. The pair is drifting lower after opening at 102.14. Now the bears are trying to break below 102.00, but the downside momentum is too weak to get the pair below this strong support. During European session the USD/JPY will be affected mostly by risk sentiments, new twists of the Ukrainian crisis might spur another rush to safety, which will push JPY higher across the board. Once the pair break below 102.00, 101,80 will come into sight. Strong demand on approach is likely to stop the bearish assault.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.09, with support below at 101.91, 101.67 and 100.49 with resistance above at 102.32, 102.50, and 102.74. Hourly Moving Averages are bearish, with the 200SMA at 102.31 and the daily 20EMA at 102.35. Hourly RSI is bearish at 40