USD/JPY bulls are not decisive enough to push through 102.00

FXStreet (Moscow) - USD/JPY is consolidating with bearish bias early in Asia

De-escalation… but for how long?

USD/JPY recovered from 101.42 and came close to the pivotal level of 102.00 as risk sentiments improved slightly when Russia promised to withdrew troops consolidated at its borders with Ukraine. Now USD/JPY fortunes are dependent form geopolitics. If things continue to improve, JPY may retrace lower across the board. Fed’s Evans and Tarullo is also scheduled to speak today, though they are unlikely to say something different from Yellen. Technically watch the resistance of 102.00. Of it is broken, the pair will return to its recent range. On the downside, the support is seen at 101.40.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 101.80, with support below at 101.39, 101.09 and 100.68 with resistance above at 102.10, 102.52, and 102.82. Hourly Moving Averages are bearish, with the 200SMA at 102.24 and the daily 20EMA at 102.29. Hourly RSI is bearish at 37