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USD/JPY peeked out of 107.00, and hid below

FXStreet (Moscow) - USD/JPY spiked above 107 in early Europe before retreating to 105.80 area.

New argument for the rise

The pair has finally refreshed 6-year highs posting 107.02 today, and it looks like the higher highs are in store, at least till Friday, when the US Retail Sales are scheduled for release. Earlier in Asia BoJ's Kuroda crossed the wires with comments on the BoJ ready to do utmost to achieve price goal. It only supported the demand on the pair, as the investors perceived it as a hint on more stimulus ahead. Today, the market may focus on US Initial Jobless Claims. The 4-week moving average may be of special interest given the recent disappointment from the Non-Farm Payrolls. The lower indicator may convince the market the August employment numbers were statistical error, and support the further pair rise.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 106.60, with support below at 106.30, 105.73 and 105.43 with resistance above at 107.17, 107.46, and 108.03. Hourly Moving Averages are bullish, with the 200SMA at 105.37 and the daily 20EMA bullish at 104.53. Hourly RSI is bullish at 60.

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