4 Apr 2014
USD/JPY hit new high and went to sleep
FXstreet.com (Moscow) – USD/JPY settled in 103.90 area moving back and forth during the morning without any clear direction.
NFP will be a good catalyst
Now when the economic calendar is cleared of any other events except Non-Farm Payrolls, we may focus our attention on this event, and count down the positive and negative factors that can have some impact on the data. The market expectations skewed to the positive outcome given the evaporated bad weather effect, and a number of leading indicators signaling strong jobs rise in March. If the numbers come above 200K, it may support the interest to the pair with initial target at 104.10 resistance level followed by the move to 104.43 when broken.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.95, with support below at 103.776, 103.62 and 103.44 with resistance above at 104.10, 104.28, and 104.43. Hourly Moving Averages are largely bullish, with the 200SMA at 102.94 and the daily 20EMA at 102.76. Hourly RSI is neutral at 47.
NFP will be a good catalyst
Now when the economic calendar is cleared of any other events except Non-Farm Payrolls, we may focus our attention on this event, and count down the positive and negative factors that can have some impact on the data. The market expectations skewed to the positive outcome given the evaporated bad weather effect, and a number of leading indicators signaling strong jobs rise in March. If the numbers come above 200K, it may support the interest to the pair with initial target at 104.10 resistance level followed by the move to 104.43 when broken.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.95, with support below at 103.776, 103.62 and 103.44 with resistance above at 104.10, 104.28, and 104.43. Hourly Moving Averages are largely bullish, with the 200SMA at 102.94 and the daily 20EMA at 102.76. Hourly RSI is neutral at 47.