10 Jan 2014
USD/JPY edges back from overnight high
FXstreet.com (Barcelona) - Having climbed from an opening low of 104.77, USD/JPY posted a morning high at 104.99 before edging lower into the European open.
USD/JPY eyes 105.50 on Non Farm Payrolls
USD/JPY was bid overnight, climbing to test resistance at the psychological 105 level before edging lower into the European session. Overnight saw a body of Chinese data, with its Trade Balance Surplus declining, while Imports improved and Exports declined. The Japanese Coincident Index missed expectations marginally, but improved on previous, while the Leading Economic Index beat expectations and previous. Overnight, the Nikkei closed 0.2% higher. Traders will be viewing todays US Non Farm Payrolls intensely, and should the data come in better than expected, spot should appreciate alongside US yields, and the 105.50 level could come into focus.
What are today´s key USD/JPY levels?
Hourly RSI sits at 52, with ADX neutral at 37. The daily pivot point sits at 104.81, just below where spot is presently trading at 104.89. Below support can be found at 104.69 (1H 100 SMA), 104.51 (S1), 104.31 (S2), 104.17 (Jan 7 Low), 104.23 (1D 20 EMA), 103.91 (Jan 6 Low), 103.77 (Dec 19-20 Lows). Resistance above can be seen at 105.05 (R1), 103.13 (Jan 8 High) 105.31 (R2), 105.45 (Jan 1 High), 105.50 (2008 High), & 105.55 (R3). A Hammer Candlestick formation can be seen on the weekly chart, which can be found at minor corrections of an uptrend.
USD/JPY eyes 105.50 on Non Farm Payrolls
USD/JPY was bid overnight, climbing to test resistance at the psychological 105 level before edging lower into the European session. Overnight saw a body of Chinese data, with its Trade Balance Surplus declining, while Imports improved and Exports declined. The Japanese Coincident Index missed expectations marginally, but improved on previous, while the Leading Economic Index beat expectations and previous. Overnight, the Nikkei closed 0.2% higher. Traders will be viewing todays US Non Farm Payrolls intensely, and should the data come in better than expected, spot should appreciate alongside US yields, and the 105.50 level could come into focus.
What are today´s key USD/JPY levels?
Hourly RSI sits at 52, with ADX neutral at 37. The daily pivot point sits at 104.81, just below where spot is presently trading at 104.89. Below support can be found at 104.69 (1H 100 SMA), 104.51 (S1), 104.31 (S2), 104.17 (Jan 7 Low), 104.23 (1D 20 EMA), 103.91 (Jan 6 Low), 103.77 (Dec 19-20 Lows). Resistance above can be seen at 105.05 (R1), 103.13 (Jan 8 High) 105.31 (R2), 105.45 (Jan 1 High), 105.50 (2008 High), & 105.55 (R3). A Hammer Candlestick formation can be seen on the weekly chart, which can be found at minor corrections of an uptrend.