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Forex pairs in this Article » USD/JPY (Barcelona) - The USD/JPY cross is trading higher as global players cannot shake the memory of yesterday’s bad Japanese Trade Balance data.

USD/JPY traders await US jobs report

The only data out Tuesday for USD/JPY traders to concern themselves with is the monthly Non-Farm Payrolls number. A very weak number would seemingly be required to offset the bearishness surrounding the Yen following yesterday’s poor Trade Balance data.

Technical outlook for USD/JPY

Technicians note that the first support for USD/JPY comes in at the horizontal line at 98.14 and is followed by the intraday pivot from Monday at 97.90. Resistance comes in at the short-term “correction resistance” of 98.44 and is followed up by the 10/16 close of 98.75.
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