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6 Feb 2015
USD/JPY attempts a bounce to 117.40
FXStreet (Edinburgh) - USD/JPY keeps trading in a narrow range around 117.40 on Friday, with markets already focusing on the US Payrolls.
USD/JPY remains above 117.00
The pair is coming up from the 117.20 area amidst a generalized correction in the US dollar. The cautious tone prevails amongst traders however, with the US Payrolls as the main risk event due later during the European afternoon. Consensus points to a creation of 234K jobs during January and the jobless rate at 5.6%, matching the previous reading.
From the Japanese side, better prints from the Leading Economic Index and the Coincident Index during December gave some initial support to the yen.
USD/JPY levels to watch
As of writing the pair is down 0.16% at 117.34 with the immediate support at 117.02 (low Feb.5) ahead of 116.87 (low Feb.3) and then 116.64 (low Feb.2). On the upside, a breakout of 117.78 (21-d MA) would open the door to 118.00 (high Feb.4) and finally 118.30 (Kijun Sen).
USD/JPY remains above 117.00
The pair is coming up from the 117.20 area amidst a generalized correction in the US dollar. The cautious tone prevails amongst traders however, with the US Payrolls as the main risk event due later during the European afternoon. Consensus points to a creation of 234K jobs during January and the jobless rate at 5.6%, matching the previous reading.
From the Japanese side, better prints from the Leading Economic Index and the Coincident Index during December gave some initial support to the yen.
USD/JPY levels to watch
As of writing the pair is down 0.16% at 117.34 with the immediate support at 117.02 (low Feb.5) ahead of 116.87 (low Feb.3) and then 116.64 (low Feb.2). On the upside, a breakout of 117.78 (21-d MA) would open the door to 118.00 (high Feb.4) and finally 118.30 (Kijun Sen).