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USD/JPY may have another run to 105.00

FXStreet (Moscow) - USD/JPY made an attempt to break above 106.30 area of resistance, before rebounding below 106.00.

Yesterday, the pair made an attempt to come closer to 105.00, but failed this first time. It’s now trading at 105.98, and may have another attempt to slide down. The fear is still in the air, and new disappointments from US data may trigger another sell-off with immediate target at the mentioned support. The scheduled for today American reports coupled with speeches from the Fed officials may give the pair the needed drivers to go further.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 106.21; initial support levels at 104.91, 103.90 and 102.60 with resistance above at 107.22, 108.52 and 109.53. Hourly Moving Averages are bearish, with the 200SMA bearish at 107.86 and the daily 20EMA bearish at 107.78. Hourly RSI is bearish at 34.

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