6 Feb 2014
USD/JPY will have to wait and see the labor data
FXstreet.com (Moscow) – USD/JPY is consolidating around 101.50 area, not showing significant moves during Asian session.
USD/JPY needs some more arguments
The pair is not ready to choose the direction, thus it needs more economic catalysts. Better than expected ISM employment component was not able to fuel the rally, though it reached November, 2010 high. Such reaction proves the market is afraid to get some disappointment from Non-Farm Payrolls on Friday. Thus, right now every piece of data from the US may trigger large moves. Any negative surprises may send the pair back to 100.86 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.32, with support below at 100.86, 100.33 and 99.87, with resistance above at 101.85, 102.31, and 102.84. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.17 and the daily 20EMA at 102.85. Hourly RSI is neutral at 50.
USD/JPY needs some more arguments
The pair is not ready to choose the direction, thus it needs more economic catalysts. Better than expected ISM employment component was not able to fuel the rally, though it reached November, 2010 high. Such reaction proves the market is afraid to get some disappointment from Non-Farm Payrolls on Friday. Thus, right now every piece of data from the US may trigger large moves. Any negative surprises may send the pair back to 100.86 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.32, with support below at 100.86, 100.33 and 99.87, with resistance above at 101.85, 102.31, and 102.84. Hourly Moving Averages are mostly bearish, with the 200SMA at 102.17 and the daily 20EMA at 102.85. Hourly RSI is neutral at 50.