TenkoFX - Analytics

    TenkoFX

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    USD/JPY Current price: 107.03


     

    The USD/JPY pair trades uneventfully around the 107.00 level, with Japanese markets closed for third consecutive day on local holidays, and investors still side-lined, this time as they wait for the US Nonfarm Payroll report to be released this Friday. Worse-than-expected US weekly unemployment claims have helped the pair retreat from a daily high of 107.39, but there's little to work with today, as the pair is barely moving within a 50 pips range. Technically, the 1 hour chart shows that the price is now above its 100 SMA, around 106.60, whilst the technical indicators have turned south around their mid-lines, lacking momentum and therefore not enough to confirm further slides. In the 4 hours chart, the technical indicators remain above their mid-lines, but losing upward strength, as the price develops far below their moving averages, all of which maintains the risk towards the downside. 

    Support levels: 106.60 106.20 105.70 

    Resistance levels: 107.45 107.90 108.30

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