23 Apr 2014
USD/JPY back on form ahead of busier calendar
FXStreet (Guatemala) - USD/JPY is pulling back losses and has broken up through the double top on todays hourly chart at 102.40. USD/JPY down -0.19% on the day at 102.41.
While the calendar has been relatively quiet on a shirt week, the next 24hrs will pick up in the US. RBS strategists note that Initial jobless claims are released in the US and while it is not directly applicable to the April NFP report as it covers a period after the NFP survey week, the decline in initial jobless claims paired with improvements in regional employment indices have increased expectations for April's NFP print. “This series does tend to be volatile in holiday weeks, and the figures released tomorrow include the Good Friday holiday”. Meanwhile and currently, USD/JPY is trading at 102.41, down -0.19% on the day, having posted a daily high at 102.71 and low at 102.17. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/JPY RSI is at 59.27
Currently USD/JPY RSI is at 59.27, up from the last hourly print at 39.84, with ADX at 22.15, up from its previous close at 14.49. Daily RSI sits at 52.70, in neutral territory.
USD/JPY Levels
Spot is presently trading at 102.42, and next resistance can be seen at 102.43 (Daily Classic S1), 102.50 (Hourly 100 SMA), 102.59 (Daily Classic PP), 102.61 (Weekly High) and 102.62 (Daily Open). Support below can be found at 102.41 (Hourly 20 EMA), 102.41 (Daily 20 SMA), 102.41 (Yesterday's Low), 102.25 (Daily Classic S2) and 102.23 (Weekly Low).
While the calendar has been relatively quiet on a shirt week, the next 24hrs will pick up in the US. RBS strategists note that Initial jobless claims are released in the US and while it is not directly applicable to the April NFP report as it covers a period after the NFP survey week, the decline in initial jobless claims paired with improvements in regional employment indices have increased expectations for April's NFP print. “This series does tend to be volatile in holiday weeks, and the figures released tomorrow include the Good Friday holiday”. Meanwhile and currently, USD/JPY is trading at 102.41, down -0.19% on the day, having posted a daily high at 102.71 and low at 102.17. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/JPY RSI is at 59.27
Currently USD/JPY RSI is at 59.27, up from the last hourly print at 39.84, with ADX at 22.15, up from its previous close at 14.49. Daily RSI sits at 52.70, in neutral territory.
USD/JPY Levels
Spot is presently trading at 102.42, and next resistance can be seen at 102.43 (Daily Classic S1), 102.50 (Hourly 100 SMA), 102.59 (Daily Classic PP), 102.61 (Weekly High) and 102.62 (Daily Open). Support below can be found at 102.41 (Hourly 20 EMA), 102.41 (Daily 20 SMA), 102.41 (Yesterday's Low), 102.25 (Daily Classic S2) and 102.23 (Weekly Low).