USD/JPY firmer, flirting with 122.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 6, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback keeps is buoyant tone vs. its G10 peers at the end of the week, taking USD/JPY to the boundaries of 122.00 the figure.

    USD/JPY firmer ahead of Payrolls

    The pair has been advancing uninterruptedly since Monday’s test of the 55-day sma around 120.30, all against the backdrop of the re-emergence of the bid tone around the dollar.

    USD is trading firmer despite today’s soft performance of the US Treasuries, and ahead of the critical Non-farm Payrolls. Consensus expects the US economy to have created 180K jobs during October vs. 142K in the previous month.

    USD/JPY levels to consider

    At the moment the pair is advancing 0.16% at 121.94 with the next hurdle at 123.00 (psychological level) ahead of 123.20 (76.4% Fibo of 125.28-116.46) and finally 125.86 (2015 high Jun.5). On the other hand, a breach of 121.16 (200-day sma) would aim for 120.87 (50% Fibo of 125.28-116.46) and then 120.32 (55-day sma).
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