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USD/JPY – it’s good to be loved by traders

FXStreet (Moscow) - USD/JPY posted 5-day high at 102.35, and is hesitating weather it should go higher.

Peaceful environment

Although Monday was spent in peace and quiet by the markets, the gradual recovery of riskier assets helped the pair to settle above 102.00, and even to add about 20 pips. And given the practically empty economic calendar the only environment in which USD may go on rising is the peaceful market and optimistic investors. The Asian trades met the criteria, and we saw broad based demand on the buck. If the Europe repeats the scenario, the next target to the upside may lie at 102.51 resistance.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.15, with support below at 102.06, 101.92 and 101.73 with resistance above at 102.28, 102.37, and 102.51. Hourly Moving Averages are mixed, with the 200SMA bearish at 102.44 and the daily 20EMA flat at 102.8. Hourly RSI is bullish at 71.

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