Filed Under:
Forex pairs in this Article » USD/JPY (Moscow) – USD/JPY rallied in early Asia to 101.98 session high, but tumbled sliding to 101.13 low at the moment.

USD/JPY will act on US labor data

The pair is still not strong enough to show new highs. But today everything may change for the pair, as new leading indicators for the Friday’s NFP are scheduled for release during American session. The FED’s future policy depends on the economy growth, and the labor market stance is one of the most important factors. If the released tonight ADP report, and what’s more important – Non-Manufacturing ISM employment component – come above expectations, it will tune the market on positive vibrations from Friday Non-Farms. In this case, the pair may rush to 101.98 resistance level followed by 102.31 if broken. Any negative surprises will bring the pair to 100.43 support level.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 101.37, with support below at 101.04, 100.43 and 100.10, with resistance above at 101.98, 102.31, and 102.92. Hourly Moving Averages are bearish, with the 200SMA at 102.41 and the daily 20EMA at 103.01. Hourly RSI is neutral at 48.
comments powered by Disqus