USD/JPY sideways on the open, maintaining 102 handle

By FXstreet.com | July 03, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 102.16, down -0.02% on the day, having posted a daily high at 102.27 and low at 102.16.

USD/JPY hasn’t budged on the open while we have an empty calendar into the closing day with the US out on July 4th holidays and nothing from Japan. We can simply reflect and digest the busy session overnight and look ahead to FOMC June minutes next week.

USD/JPY takes 102 handle post US data

From the US overnight, Sean Callow, analyst at Westpac Banking Corporation summed the session up with the US non-farm payrolls posting a solid 288k gain in June, with 29k upward revisions mostly to April for a 272k average pace of jobs growth through the last quarter, up from 189k in Q1 and 197k in Q4. “The June detail was solid, with every industry sector recording gains, hourly earnings and aggregate hours worked both up 0.2%, supporting household income, and the unemployment rate falling to 6.1%, its lowest since 2008. The separate household survey found 405k more people in jobs, for a 160k average gain in Q2, still less than in the payrolls count but for H1 2014 that gives a 272k average gain, vs payrolls on 231k. The US trade deficit narrowed from $47.0bn to $44.3bn in May, thanks to a 1% exports gain and a 0.3% imports fall. The ISM non-manufacturing survey slipped from 56.3 to 56.0 in June, its first fall since February. Business activity was lower but orders and jobs rose”.

USD/JPY Levels

Current price is 102.17, with resistance ahead at 102.18 (Daily 100 SMA), 102.19 (Weekly High), 102.19 (Daily Open), 102.27 (Daily High) and 102.30 (Yesterday's High). Next support to the downside can be found at 102.16 (Daily Low), 102.09 (Hourly 20 EMA), 102.08 (Daily Classic PP), 101.96 (Weekly Classic R1) and 101.88 (Daily 20 SMA).

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