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USD/JPY bulls stick to guns; 105.53 at stake

FXStreet (Moscow) - USD/JPY spiked to 105.70 during early Asian hours, but failed to hold ground and retraced towards 105.30 support.

NFP is vital

USD/JPY gained ground on Thursday on the back of USD strength across the board. The pair is back above 105.00 and ready to continue growing, should the US Non-Farm Payrolls report come out in line with expectations or better. ADP employment report showed that the economy added more than 200k jobs in private sector (204k). This is a solid number, though weaker than forecasted. Employment component of Non-Manufacturing ISM improved in August, which means that there is a good chance to see optimistic numbers in today’s official report. From the technical point of view, 2014 high at 105.53 is still the key for the bulls. A sustained break and daily close above this level
will allow to aim at 106.00

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 105.13, with support below at 104.89, 104.51 and 104.26 with resistance above at 105.51, 105.76, and 106.14. Hourly Moving Averages are bullish, with the 200SMA bullish at 104.36 and the daily 20EMA bullish at 103.75. Hourly RSI is bullish at 59.

EUR/USD wrecked at 1.2930 support

EUR/USD has recovered from the Asian low of 1.2922 and settled marginally above 1.2930 support; the pair is consolidating Thursday’s losses with bearish bias.
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