4 Apr 2014
USD/JPY at monthly high post Non Farm Payroll miss
FXStreet (London) - Despite an immediate push above 104.00, USD/JPY declined in a near term burst of volatility in the aftermath of today’s Non Farm Payrolls, before returning to push higher.
USD/JPY had range traded between 103.58-104.11 since the midweek, unable to break from the typical calm ahead of Non Farm Payrolls. With data ever so slightly missing expectations at 192k against forecasts of 200k, the pair had a push to the top and bottom of its recent range, and is now slightly bid, and looking to climb substantially above 104. Elsewhere, the US Unemployment Rate remained at 6.7% in line with expectations.
USD/JPY Technicals
Currently, USD/JPY is trading at 104.03, up 0.11% on the day, having posted a daily high at 104.11 and low at 103.55. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 60.46, up from the last hourly print at 49.29, with ADX at 14.72, down from its previous close at 16.86. Looking to momentum indicators, the hourly 200 SMA is currently at 103.89, up from the last close at 102.99 and climbing. 2-Standard Deviation Volatility Bandwidth is presently at 10 pips and shrinking on the hourly USD/JPY chart, while the ATR (14) is currently at 5 pips.
USD/JPY Levels
Current price is 104.04, with resistance ahead at 104.11 (Daily High), 104.11 (Daily Classic R1), 104.13 (Yesterday's High), 104.28 (Daily Classic R2) and 104.44 (Daily Classic R3). Next support to the downside can be found at 103.95 (Daily Classic PP), 103.93 (Daily Open), 103.93 (Monthly High), 103.93 (Weekly High) and 103.91 (Hourly 20 EMA).
USD/JPY had range traded between 103.58-104.11 since the midweek, unable to break from the typical calm ahead of Non Farm Payrolls. With data ever so slightly missing expectations at 192k against forecasts of 200k, the pair had a push to the top and bottom of its recent range, and is now slightly bid, and looking to climb substantially above 104. Elsewhere, the US Unemployment Rate remained at 6.7% in line with expectations.
USD/JPY Technicals
Currently, USD/JPY is trading at 104.03, up 0.11% on the day, having posted a daily high at 104.11 and low at 103.55. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 60.46, up from the last hourly print at 49.29, with ADX at 14.72, down from its previous close at 16.86. Looking to momentum indicators, the hourly 200 SMA is currently at 103.89, up from the last close at 102.99 and climbing. 2-Standard Deviation Volatility Bandwidth is presently at 10 pips and shrinking on the hourly USD/JPY chart, while the ATR (14) is currently at 5 pips.
USD/JPY Levels
Current price is 104.04, with resistance ahead at 104.11 (Daily High), 104.11 (Daily Classic R1), 104.13 (Yesterday's High), 104.28 (Daily Classic R2) and 104.44 (Daily Classic R3). Next support to the downside can be found at 103.95 (Daily Classic PP), 103.93 (Daily Open), 103.93 (Monthly High), 103.93 (Weekly High) and 103.91 (Hourly 20 EMA).