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USD/JPY – new highs ahead!

FXStreet (Moscow) - USD/JPY came closer to yesterday highs in late Asia, but failed to move further up, and retreated to current 115.19.

The pair keeps refreshing multi-year highs every coming day adding more than 7 figures during the recent 7 trading days. It looks like the pair is ready for a pause after such a long run, however, there is one serious factor that won’t let the pair sleep tight. The looming Non-Farm Payroll report will be the key focus for today’s trades, as the recent FOMC statement emphasized the positive stance of the labor market pushing the rate expectations higher. If numbers come out around 300K, it may help the pair break the recent high, and target at 115.78 resistance.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 114.92; initial support levels at 114.31, 113.45 and 112.84 with resistance above at 115.78,116.39 and 117.25. Hourly Moving Averages are bullish, with the 200SMA at 111.70 and the daily 20EMA bullish at 110.31. Hourly RSI is bullish at 61.

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