USD/JPY is glued to narrow range marginally above 102.00

FXStreet (Moscow) - USD/JPY is holding well above 102.00 pivot early on Monday; the pair started the trading week at 102.10 and set the current Asian high at 102.18.

Bulls’ hope dies last

On a longer-term basis USD/JPY is locked in a range. Bulls should be happy to get the pair above 102.00 on weekly basis as it gives them a chance to push it to the upper side of the range at 102.80 during the next couple of days. To do so they need calm on geopolitical front and positive macroeconomic statistics from the USA to support USD rally across the board. On the intraday basis the USD/JPY upside is likely to be limited by 200-day at 102.30 followed by medium offers at 102.50, while the downside will be capped by Friday’s low at 101.71.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 101.90, with support below at 101.64, 101.24 and 100.98 with resistance above at 102.29, 102.55, and 102.95. Hourly Moving Averages are mixed, with the 200SMA bearish at 102.44 and the daily 20EMA flat at 102.07. Hourly RSI is bullish at 61.