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5 Jun 2014
USD/JPY is depressed around 102.50, longing for catalysts
FXStreet (Moscow) - USD/JPY opened the day at 102.73, reached 102.44 low, and trading somewhere around at the moment.
Last piece to the puzzle
USD/JPY refreshed monthly highs yesterday on better than expected US Non-Manufacturing ISM data. All the components of the index rose significantly, and employment sub index is not an exception. Thus, the market is starting to price in better than expected data on Non-Farm Payrolls released on Friday. The last piece to the labor market puzzle will come today with 4-week average of unemployment claims. The sliding levels may only confirm the high chances of positive outcome, and support the move higher with initial target at 102.88 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.66, with support below at 102.51, 102.29 and 102.14 with resistance above at 102.88, 103.03, and 103.25. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.04 and the daily 20EMA at 101.96. Hourly RSI is bullish at 51.
Last piece to the puzzle
USD/JPY refreshed monthly highs yesterday on better than expected US Non-Manufacturing ISM data. All the components of the index rose significantly, and employment sub index is not an exception. Thus, the market is starting to price in better than expected data on Non-Farm Payrolls released on Friday. The last piece to the labor market puzzle will come today with 4-week average of unemployment claims. The sliding levels may only confirm the high chances of positive outcome, and support the move higher with initial target at 102.88 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.66, with support below at 102.51, 102.29 and 102.14 with resistance above at 102.88, 103.03, and 103.25. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.04 and the daily 20EMA at 101.96. Hourly RSI is bullish at 51.