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7 Mar 2014
USD/JPY still cannot settle above 103.00
FXstreet.com (Moscow) – USD/JPY is consolidating around 103.00 taking a pause after a long climb.
NFP – nothing to be happy about
After a significant rally despite broad based USD weakness, the pair took a pause, and waits for the news from the US labor market. The leading indicators say there is nothing to be happy about, as ISM employment component in service sector tumbled to contraction territory below 50-point waterline, ADP missed the forecasts, and CB Consumer Confidence was far worse than expected. The chances of weak results within Non-Farm Payrolls report are quite high, thus supporting the way down to 102.47 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.82, with support below at 102.47, 101.90 and 101.54, with resistance above at 103.39, 103.75, and 104.32. Hourly Moving Averages are bullish, with the 200SMA at 102.16 and the daily 20EMA at 102.32. Hourly RSI is neutral at 64.
NFP – nothing to be happy about
After a significant rally despite broad based USD weakness, the pair took a pause, and waits for the news from the US labor market. The leading indicators say there is nothing to be happy about, as ISM employment component in service sector tumbled to contraction territory below 50-point waterline, ADP missed the forecasts, and CB Consumer Confidence was far worse than expected. The chances of weak results within Non-Farm Payrolls report are quite high, thus supporting the way down to 102.47 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.82, with support below at 102.47, 101.90 and 101.54, with resistance above at 103.39, 103.75, and 104.32. Hourly Moving Averages are bullish, with the 200SMA at 102.16 and the daily 20EMA at 102.32. Hourly RSI is neutral at 64.