2 May 2014
USD/JPY crawls higher reaching 102.50
FXStreet (Moscow) - USD/JPY opened the day at 102.32, and gradually crawls higher reaching 102.49 session high by the moment.
USD/JPY still has hopes
Now we have all the data helping to forecast the Non-Farm Payrolls direction. Unfortunately, one of the best leading indicators of employment – Non-Manufacturing ISM report – is coming out next week, thus we will have only ADP, and Manufacturing ISM report both pointing to the likelihood of strong readings. Besides, in February, and March releases we have seen levels around 200K, confirming the possibility of pick-up in business activity speeding the process of new jobs generation. If numbers come up above 200K this time, it may help the pair come closer to 103.00 with the chances of breakout, if the reading is more than 230K.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.28, with support below at 102.17, 102.02 and 101.91 with resistance above at 102.43, 102.54, and 102.69. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.40 and the daily 20EMA at 102.39. Hourly RSI is bullish at 55.
USD/JPY still has hopes
Now we have all the data helping to forecast the Non-Farm Payrolls direction. Unfortunately, one of the best leading indicators of employment – Non-Manufacturing ISM report – is coming out next week, thus we will have only ADP, and Manufacturing ISM report both pointing to the likelihood of strong readings. Besides, in February, and March releases we have seen levels around 200K, confirming the possibility of pick-up in business activity speeding the process of new jobs generation. If numbers come up above 200K this time, it may help the pair come closer to 103.00 with the chances of breakout, if the reading is more than 230K.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.28, with support below at 102.17, 102.02 and 101.91 with resistance above at 102.43, 102.54, and 102.69. Hourly Moving Averages are mostly bullish, with the 200SMA at 102.40 and the daily 20EMA at 102.39. Hourly RSI is bullish at 55.