8 Nov 2013
USD/JPY stretching for the 99 front
FXstreet.com (Chicago) - USD/JPY continues climbing in the afternoon of the American trading session consolidating the +90 pips obtained shortly after the release of NFP data in the US.
Earlier in the US, NFP data was surprisingly positive at 204K vs. past 163K and expected 125K. Although average hourly earnings disappointed, personal income increased, consolidating the bullish momentum that was triggered after the October’s results were published.
USD/JPY Technical Levels
Technically speaking, the pair retraces from 99.23 session highs after a steep jump for a 0.93% daily gain so far. Offered at 98.99, the pair oscillates between the supports aligned at 99 (October 16th highs), 98.70 (November 5th highs) ahead of 98.47 (October 22nd highs) and the resistances set at 99.36 (September 23rd highs), 99.71 (September 17th highs) followed by 100.25 (August 30th highs). Printing higher highs and lows, the pair is able to regain the 99 front momentarily but fails to consolidate. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and flows above the EMA20.
Earlier in the US, NFP data was surprisingly positive at 204K vs. past 163K and expected 125K. Although average hourly earnings disappointed, personal income increased, consolidating the bullish momentum that was triggered after the October’s results were published.
USD/JPY Technical Levels
Technically speaking, the pair retraces from 99.23 session highs after a steep jump for a 0.93% daily gain so far. Offered at 98.99, the pair oscillates between the supports aligned at 99 (October 16th highs), 98.70 (November 5th highs) ahead of 98.47 (October 22nd highs) and the resistances set at 99.36 (September 23rd highs), 99.71 (September 17th highs) followed by 100.25 (August 30th highs). Printing higher highs and lows, the pair is able to regain the 99 front momentarily but fails to consolidate. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and flows above the EMA20.