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3 Jun 2015
USD/JPY: expected to remain range-bound ahead of US NFP – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for USD/JPY, and expecting the pair to remain range bound ahead of US NFP release this Friday.
Key Quotes
“The USD/JPY pair found some support in better-than-expected US ADP survey and Trade balance figures, recovering most of the ground lost Tuesday.”
“The pair is consolidating its latest gains after reaching the 125.00 figure early this week, with the 1 hour chart showing that the price is back above the 100 SMA, although the technical indicators are losing upward strength in positive territory.”
“In the 4 hours chart, the technical indicators are heading higher above their mid-lines, whilst the price holds far above its moving averages, supporting the dominant bullish trend. Nevertheless, the pair is expected to remain range bound ahead of Friday's employment figures."
“Support levels: 124.45 124.10 123.75”
“Resistance levels: 125.10 125.50 125.90”
Key Quotes
“The USD/JPY pair found some support in better-than-expected US ADP survey and Trade balance figures, recovering most of the ground lost Tuesday.”
“The pair is consolidating its latest gains after reaching the 125.00 figure early this week, with the 1 hour chart showing that the price is back above the 100 SMA, although the technical indicators are losing upward strength in positive territory.”
“In the 4 hours chart, the technical indicators are heading higher above their mid-lines, whilst the price holds far above its moving averages, supporting the dominant bullish trend. Nevertheless, the pair is expected to remain range bound ahead of Friday's employment figures."
“Support levels: 124.45 124.10 123.75”
“Resistance levels: 125.10 125.50 125.90”