The USD/JPY pair is currently
located above the support line at 100.678, where yesterday was marked the
intraday low. In case of closing lower than yesterday’s high at 102.793, the
pair would finish the session composing an inside bar. Anyway, the macro agenda
for tomorrow will provide the NFP data for the last month and it is going to be
the greatest market mover for the greenback pairs.
Meanwhile a falling wedge is in process of forming, as seen on the H1 chart. Withing
the next two days we might witness bulls targeting to 102-103 area. Resistance
is seen at 102.646 and support is located at 100.678. In the early trading
hours RSI was showing oversold market, but currently is around 40% and confirms
the bullish price movement.
In short term USD/JPY is consolidating ahead of the NFP release, but the pair is sparking something to breakthru.
In short term USD/JPY is consolidating ahead of the NFP release, but the pair is sparking something to breakthru.
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