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10 Jan 2014
USD/JPY is waiting for a chance to crash 105.00
FXstreet.com (Moscow) - USD/JPY hovers around 104.80 after opening at 104.74 as the Dollar bulls struggle to regain control.
USD/JPY is keeping eye at 105.00
USD/JPY tested the resistance of 105.00 yesterday on the back of the US Dollar strengthening across the board, but the move was quickly reversed, which makes this level even more important. The currency pair started the Asian session on Friday at 104.74 and moved slightly higher. The current intraday maximum is set at 104.92, within a whisker of the above said resistance. As the market is waiting for another big event of the week, US Non Farm Payrolls, the trading might be rather directionless . According to the forecasts, the US economy created about 197k new jobs in December, but other indicators of labour market allow to believe that the actual numbers will exceed expectations. This may help USD bulls to push USD/JPY above 105.00. Though the pair needs to close above 105.30 (2 January opening level) to return to the upside trend. The nearest supper comes at 104.48-50, and lower at 104.00.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 104.82, with support below at 104.56, 104.32 and 104.07, with resistance above at 105.06, 105.31, and 105.55. Hourly Moving Averages are bullish, with the 200SMA at 104.83 and the daily 20EMA at 104.22. Hourly RSI is neutral at 53.59.
USD/JPY is keeping eye at 105.00
USD/JPY tested the resistance of 105.00 yesterday on the back of the US Dollar strengthening across the board, but the move was quickly reversed, which makes this level even more important. The currency pair started the Asian session on Friday at 104.74 and moved slightly higher. The current intraday maximum is set at 104.92, within a whisker of the above said resistance. As the market is waiting for another big event of the week, US Non Farm Payrolls, the trading might be rather directionless . According to the forecasts, the US economy created about 197k new jobs in December, but other indicators of labour market allow to believe that the actual numbers will exceed expectations. This may help USD bulls to push USD/JPY above 105.00. Though the pair needs to close above 105.30 (2 January opening level) to return to the upside trend. The nearest supper comes at 104.48-50, and lower at 104.00.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 104.82, with support below at 104.56, 104.32 and 104.07, with resistance above at 105.06, 105.31, and 105.55. Hourly Moving Averages are bullish, with the 200SMA at 104.83 and the daily 20EMA at 104.22. Hourly RSI is neutral at 53.59.