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USD/JPY lazily climbing higher

FXStreet (Moscow) - USD/JPY is trying to develop the upside dynamics as the pair started the Asian session at 102.56 and moved to the current intraday high at 102.64. Now it is trading at 102.60.

If ifs and and were pots and pans

USD/JPY recovered from Friday losses and finished the day marginally above an important 102.50 level. This is but natural as risk sentiments improved and traders pared JPY longs. It seems that geopolitical issues moved to the background for the time being, while some important macroeconomic event have come to the limelight. Japan publishes coincidence and leading indicators that may shed some light on how abenomics is doing, though investors reaction to the report might be muted as they are getting ready for US CPI data that may bring USD/JPY to life. Signs of weaker inflation are sure to put USD under pressure across the board, while USD/JPY may go down to 102.00 if it manages to crack 102.30 support, and it 's a big if there.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.47, with support below at 102.34, 102.11 and 101.97 with resistance above at 102.70, 102.84, and 103.07. Hourly Moving Averages are bullish, with the 200SMA bullish at 102.29 and the daily 20EMA bullish at 102.21. Hourly RSI is bullish at 61.

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