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Forex pairs in this Article » USD/JPY (London) - USD/JPY opened London on the bid but remains shy of 98.00 ahead of a busy afternoon on the data front from the US economy.

The yen is broadly unchanged, but it has been stronger overall this week so far in the anticipation of repatriation flows ahead for August, but for the mean time, USD/JPY is being supported in the opening hour of London’s markets ahead of a busy day for the dollar. Today see’s US GDP, ADP employment and FOMC. What will be interesting is the markets reaction to the new GDP monitoring system that makes up the data. The US Government has invented a new way of calculating the data which now includes R&D spending, art, music, film royalties, books, theatre.

USD/JPY mixed

The pair had been sitting near to the base of the cloud exposing 96.75/95/40 areas and risk to 93.75 recent low. The pair is ticking up in London while 100.61 resistances have recently blocked rallies. Levels are in the 20d ma 99.58, 50d ma 98.93, 200 d ma 92.79, with RSI (9) at 38.92. Supports are from 96.95, 97.58, 97.64, and 97.76, while spot is 97.85 post London’s opening hour with resistances 98.00, 98.34, 98.47, 98.71, and 99.00.
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