7 Feb 2014
USD/JPY is range-bound, but dreams of new highs
FXstreet.com (Moscow) – USD/JPY has rebounded from 102.00 recently, returning to 102.20 at the moment.
USD/JPY will get no help from the NFP
Although the slide down and recent rebound of the pair were not significant, it is at least moving, despite the other bunch of majors. The pair has a big day in store. Today it may finally restore its loss, or tumble to new lows. The expectations on Non-Farm Payrolls range from 100K to 220K. The leading indicators from labor market are largely negative supporting the possibility of lower than expected number. Given the large disappointment from the previous report in January, even the meeting the consensus won’t be enough to trigger USD broad-based move higher. Any negative surprises may send the pair back to 101.52 support level. The upside is limited by 102.81.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.85, with support below at 101.52, 100.90 and 100.56, with resistance above at 102.47, 102.81, and 103.43. Hourly Moving Averages are mixed, with the 200SMA at 102.09 and the daily 20EMA bearish at 102.79. Hourly RSI is neutral at 65.
USD/JPY will get no help from the NFP
Although the slide down and recent rebound of the pair were not significant, it is at least moving, despite the other bunch of majors. The pair has a big day in store. Today it may finally restore its loss, or tumble to new lows. The expectations on Non-Farm Payrolls range from 100K to 220K. The leading indicators from labor market are largely negative supporting the possibility of lower than expected number. Given the large disappointment from the previous report in January, even the meeting the consensus won’t be enough to trigger USD broad-based move higher. Any negative surprises may send the pair back to 101.52 support level. The upside is limited by 102.81.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.85, with support below at 101.52, 100.90 and 100.56, with resistance above at 102.47, 102.81, and 103.43. Hourly Moving Averages are mixed, with the 200SMA at 102.09 and the daily 20EMA bearish at 102.79. Hourly RSI is neutral at 65.