OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY aims at 109.00 resistance

FXStreet (Moscow) - USD/JPY has recovered from early lows at 108.35, but the upside has stalled marginally below 109.00 (current intraday high is set at 108.95)

One way street ended

USD/JPY lost more than 100 pips in just two days and for a short period of time dipped below the key support level at 108.20 towards 108.00. The downside is regarded as a healthy correction after a strong upside movement. It signals that the bulls are exhausted and the pair might spend some time in a range. Now the Non-Farm Payrolls report is looming large and affecting the currency trends. USD position adjustment has taken USD/JPY to 108.77, but the upside seems to be limited so far. Later during European hours keep an eye at 109.00 resistance with medium offers on approach. Once it is broken, the upside might be extended towards 109.20. A failure here would trigger the fall to 108.35

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 108.52 with support below at 107.91, 107.39 and 106.78 with resistance above at 109.03, 109.64 and 110.16. Hourly Moving Averages are mixed, with the 200SMA bearish at 109.07 and the daily 20EMA bullish at 107.90. Hourly RSI is bullish at 53

AUD/USD waiting for NFP at 0.8789, off Asian lows

AUD/USD is sitting in a range after having slid below 0.8800 pivot; the pair is currently trading at 0.8789, off the Asian low at 0.8774
Read more Previous

EUR/JPY rushes higher, off Asian low at 137.29

EUR/JPY is regaining ground as the cross started the trading session in Asia at 137.36 and climbed to intraday high at 137.89; currently it is trading at 137.73
Read more Next
Start livechat