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6 Aug 2015
USD/JPY side-lined below 125
FXStreet (Mumbai) - The US dollar recovered losses and now trades almost unchanged versus the Japanese currency in the mid-European session, with USD/JPY fighting hard for the 125 handle. The major remains in flat-lining just shy of 125 levels as the USD bulls consolidate ahead of US weekly jobless claims release later in the New York session.
USD/JPY eyes set on 125
Currently, the USD/JPY pair trades flat at 124.82, finding good support at 124.70 levels. The dollar-yen pair extends its consolidative mode in to the European session, gradually building momentum in a bid to regain 125 handle and thus extend beyond.
Moreover, the pair awaits fresh cues ahead of Friday's BOJ policy decision and US payrolls which are expected to post 225,000 growth for July, unchanged from 223,000 in June.
On Wednesday, the ADP employment change for July dropped sharply which led to some losses for the greenback, although it managed to erase nearly all of them after the Markit's services sector PMI for July printed 55.7 and ticked higher from June's 55.2, surprising markets on the upside.
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USD/JPY Technical Levels
To the upside, the next resistance is located 125.03 (Aug 5 High) levels and above which it could extend gains 125.69 (June 8 High) levels. To the downside immediate support might be located at 124.32 (June 5 Low) below that at 124 levels.
USD/JPY eyes set on 125
Currently, the USD/JPY pair trades flat at 124.82, finding good support at 124.70 levels. The dollar-yen pair extends its consolidative mode in to the European session, gradually building momentum in a bid to regain 125 handle and thus extend beyond.
Moreover, the pair awaits fresh cues ahead of Friday's BOJ policy decision and US payrolls which are expected to post 225,000 growth for July, unchanged from 223,000 in June.
On Wednesday, the ADP employment change for July dropped sharply which led to some losses for the greenback, although it managed to erase nearly all of them after the Markit's services sector PMI for July printed 55.7 and ticked higher from June's 55.2, surprising markets on the upside.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
USD/JPY Technical Levels
To the upside, the next resistance is located 125.03 (Aug 5 High) levels and above which it could extend gains 125.69 (June 8 High) levels. To the downside immediate support might be located at 124.32 (June 5 Low) below that at 124 levels.