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Forex pairs in this Article » USD/JPY (Barcelona) - Having steadily climbed from its overnight low at 101.63, following comments by the GPIF Chairman which lead to Yen weakening, USD/JPY has soared, posting a high at 102.77 in the initial reaction to today’s US Employment data.

USD/JPY jumps on the back of improving US Employment figures

US Non Farm Payrolls data came in at 203k, straddling expectations of 180k, and only just marginally lower than last months 204k reading. US Unemployment numbers improved at 7.0% which beat expectations of 7.2%, causing USD/JPY to jump sharply in the initial reaction. Spot is presently trading at 102.65.

What does USD/JPY sentiment look like?

The hourly OB/OS Index is overbought while the Trend Index is slightly bullish. RSI reads 73 in overbought territory at the moment while ADX is at 16. Presently the 200-period SMA is at 102.22 and flat while the exponential average closing price for the last 20 days is bullish at 101.09.

What are today’s key USD/JPY levels?

Matt Bacon-Hall of FXBeat sees resistance today at “102.40-50 Light offers, 102.90-00 Exporter offers, 103.40 Buy stops commence & 103.75 Yearly high”, and support below at “101.50- 60 macro bids, 101.00-10 Macro and leveraged bids, 100.90 Stops commence, & 100.50 Option bids.” Today’s central pivot point is at 1001.92, with resistance above at 102.2297 (R1), 102.7648 (R2) and 103.0697 (R3), and support below at 101.3897 (S1), 101.0848 (S2) and 100.5497 (S3).
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