4 Aug 2015
USD/JPY hovers around 124.00 ahead of US data
FXStreet (Córdoba) - USD/JPY continues to consolidate around the 124 mark on Tuesday ahead of a fairly quiet New York session, with no first-tier data and US factory orders as the highlight.
USD/JPY pulled back from yesterday’s highs at the 124.25 zone but with the downside contained by the 123.75 zone, the pair was confined to a narrow range over the last hours. At time of writing, USD/JPY is trading at 123.97, virtually unchanged on the day.
The key event of the week will be Friday’s nonfarm payroll report, with consensus calling for a 222K job gain in July following June’s 223K.
USD/JPY technical levels
As for technical levels, USD/JPY could find next supports at 123.77 (Aug 4 low), 123.53/51 (50-day SMA/Jul 31 low) and 123.32 (Jul 29 low). On the other hand, resistances are seen at 124.10 (Aug 4 high) and 124.26/36 (Aug 3 & Jul 31 highs) ahead of 124.57 (Jul 30 high).
USD/JPY pulled back from yesterday’s highs at the 124.25 zone but with the downside contained by the 123.75 zone, the pair was confined to a narrow range over the last hours. At time of writing, USD/JPY is trading at 123.97, virtually unchanged on the day.
The key event of the week will be Friday’s nonfarm payroll report, with consensus calling for a 222K job gain in July following June’s 223K.
USD/JPY technical levels
As for technical levels, USD/JPY could find next supports at 123.77 (Aug 4 low), 123.53/51 (50-day SMA/Jul 31 low) and 123.32 (Jul 29 low). On the other hand, resistances are seen at 124.10 (Aug 4 high) and 124.26/36 (Aug 3 & Jul 31 highs) ahead of 124.57 (Jul 30 high).