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3 Apr 2014
USD/JPY hit new high and went to sleep
FXstreet.com (Moscow) – USD/JPY hit new 9-week high at 104.06, though not able to stay above sliding to 103.90 at the moment.
ISM report will clear the picture
USD/JPY was ambitious to reach 104.00 right from the Asian morning, but soon it was rejected. We don’t expect much movement in Europe on the back of the ECB meeting developments, as the pair will most probably focus on Non-Manufacturing ISM outcome. The employment sub index will be the key for predicting the Non-Farm Payrolls results, as service sector is responsible for the largest part of jobs in the USA. Given the better weather conditions in March we may wait for the index rise, and this may fuel the pair move above 104.00 with initial target at 104.18 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.81, with support below at 103.66, 103.44 and 103.29 with resistance above at 104.03, 104.18, and 104.40. Hourly Moving Averages are bullish, with the 200SMA at 102.73 and the daily 20EMA at 102.63. Hourly RSI is neutral at 66.
ISM report will clear the picture
USD/JPY was ambitious to reach 104.00 right from the Asian morning, but soon it was rejected. We don’t expect much movement in Europe on the back of the ECB meeting developments, as the pair will most probably focus on Non-Manufacturing ISM outcome. The employment sub index will be the key for predicting the Non-Farm Payrolls results, as service sector is responsible for the largest part of jobs in the USA. Given the better weather conditions in March we may wait for the index rise, and this may fuel the pair move above 104.00 with initial target at 104.18 resistance level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 103.81, with support below at 103.66, 103.44 and 103.29 with resistance above at 104.03, 104.18, and 104.40. Hourly Moving Averages are bullish, with the 200SMA at 102.73 and the daily 20EMA at 102.63. Hourly RSI is neutral at 66.