USD/JPY bulls are not ready to get the pair above 102.00

FXStreet (Moscow) - USD/JPY staged a short-lived move above 102.00 to current high at 102.04, but the bullish attempt was too weak and the pair returned to 101.90.

Now JPY is interested in Japanese data
Although the pair has staged a 3-days rally back to the area seen on May, 15, the current position of the USD is still not strong enough to believe in resumption of uptrend. Besides, the market is now starting to pay attention to Japanese data, as the fundamental strength of the economy only convince the BOJ there is no need to hurry with additional easing. May Small business confidence and inflation coupled with April retail sales and unemployment reports are scheduled for the week ahead, and any positive surprises may become another reason to buy JPY again.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 101.86, with support below at 101.70, 101.43 and 101.27 with resistance above at 102.13, 102.29, and 102.56. Hourly Moving Averages are bullish, with the 200SMA at 101.62 and the daily 20EMA at 101.86. Hourly RSI is bullish at 62