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Forex: USD/JPY continues to edge higher, still eyeing 100.00

FXstreet.com (Barcelona) - The USD/JPY made another new high today, finishing up 60 pips at 99.76. The pair is now up 5.89% for the month of April, and still eyeing the psychological 100.00 level sitting just above current prices.

“There are still good sell orders ahead of the big fat round number (100, in case you were wondering). Much of the selling is option-related, the size of sells is substantial,” notes Eamonn Sheridan of Forex Live.

A number of reports will be released out of Japan at 23:50GMT today, including Domestic Corporate Goods, Foreign Bond Investment, Machinery Orders, and Money Supply.

On the daily chart, the ADX (14) trend strength indicator remains bullish with a strong upward slope, and a reading of 46.25. Shorter term moving averages on the daily chart are also bullish with price located above both of the upward sloping 9day and 20day moving averages.

Initial resistance still sits above at the 100.00 level (psychological level), followed by 100.28 (daily pivot high). First support is at 99.50 (closing price on April 8th), followed by 98.59 (support base on 1 hour chart)

Forex: AUD/USD around 1.0550 ahead of Aus jobs data

AUD/USD is last at 1.0544, off recent weekly highs at 1.0552, highest since Jan 23. The pair is up +1.59% for the week so far after a weak start in the Asia-Pacific Monday morning printing weekly lows on some stop loss hunting below the 1.0350 key mark, ahead of later on key risk event for the session in the form of Australia jobs report at 01:30 GMT. According to a Bloomberg survey a total loss of -7500 jobs is forecasted, with unemployment rate unchanged at 5.4%.
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