4 Nov 2014
USD/JPY in ranges above 113.10
FXStreet (Córdoba) - The yen is rising modestly against the US dollar, headed toward the first daily gain in a week. USD/JPY is moving sideways hovering around 113.40.
To the upside, the pair found resistance during the American session at 113.70 while to the downside, the area above 113.10 offered support. Since the second half of the Asian session price action has moved within the mentioned range.
USD/JPY consolidates after sharp rally
After rising constantly during two consecutive trading days, rising more than 500 pips, the pair is finally stabilizing. Volatility tomorrow could increase once again amid the release of the ADP employment report in the US; but for traders the most important report regarding the US labor market, will be on Friday, with NFP numbers.
To the upside, the pair found resistance during the American session at 113.70 while to the downside, the area above 113.10 offered support. Since the second half of the Asian session price action has moved within the mentioned range.
USD/JPY consolidates after sharp rally
After rising constantly during two consecutive trading days, rising more than 500 pips, the pair is finally stabilizing. Volatility tomorrow could increase once again amid the release of the ADP employment report in the US; but for traders the most important report regarding the US labor market, will be on Friday, with NFP numbers.