Filed Under:
Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - The USDJPY is still trading near its established daily maximum (80.36) in the aftermath of a slightly better than expected PMI figure (46 vs. 45.7 consensus) in Germany. At the time of writing the cross has settled at 80.31/35, having secured an advance of +0.20% thus far.

According to Research Analyst Gareth Berry at UBS, "The latest strength in the USDJPY suggests there is scope for a test of 80.62, a break above would be positive in the long term, though strong employment numbers today could see a clean break to the upside - ultimately, our US economists think consensus opinion is fair however."

Investors will continue to track and eye key US indicators later this afternoon, principally the Nonfarm payrolls and Unemployment figures at 12:30 GMT, which taken into conjunction so close to the US election next week, could be vital.

"The hourly charts show how the pair has received strong bullish momentum around its SMA 200 that assisted it to hit 80.00 psychological level. We are waiting for a new breakout above 80.35 boundaries on the way toward the short-term technical objective at 81.50 zones. Meanwhile, the stochastic and MACD are moving higher and thus, we keep our efficient bullish scenario intact over intraday basis." writes the technical analyst team at ICN.com.
comments powered by Disqus