5 Dec 2013
USD/JPY is pressing on the 102.00 handle
FXstreet.com (London) - USD/JPY has been supported sub 102.00 and reached highs of 102.46 from a low of 101.85.
As strategist Lee Hardman at The Bank of Tokyo-Mitsubishi UFJ noted,
the release of the stronger than expected ADP employment survey from the US
yesterday has further heightened investor expectations that the Fed may
begin to taper QE earlier at the 17th-18th December or 28th-29th January
FOMC meetings. “The survey highlights that the labour market has remained surprisingly resilient to the government shutdown and debt ceiling uncertainty. The release of the Fed’s Beige Book overnight also revealed that “hiring showed a modest increase or was unchanged across the country””. Next up, NFP’s tomorrow!
USD/JPY Levels
The 20 DMA is 100.78, the 50 DMA is 99.11 and the 200 DMA is 98.45. RSI (14) reads 68.41. Supports are ascending from 101.14, 101.43, 101.74, 101.82, 102.03, 102.45, 102.71, 102.84 and 103.03.
As strategist Lee Hardman at The Bank of Tokyo-Mitsubishi UFJ noted,
the release of the stronger than expected ADP employment survey from the US
yesterday has further heightened investor expectations that the Fed may
begin to taper QE earlier at the 17th-18th December or 28th-29th January
FOMC meetings. “The survey highlights that the labour market has remained surprisingly resilient to the government shutdown and debt ceiling uncertainty. The release of the Fed’s Beige Book overnight also revealed that “hiring showed a modest increase or was unchanged across the country””. Next up, NFP’s tomorrow!
USD/JPY Levels
The 20 DMA is 100.78, the 50 DMA is 99.11 and the 200 DMA is 98.45. RSI (14) reads 68.41. Supports are ascending from 101.14, 101.43, 101.74, 101.82, 102.03, 102.45, 102.71, 102.84 and 103.03.