Back
4 Apr 2014
USD/JPY: Holds near 104.00 ahead of NFP
FXStreet (Bali) - USD/JPY is consolidating just below the 104.00 handle in a quiet Asian session, in which investors remain sidelined ahead of the NFP report.
During this week, the pair finally manifested its bullish intentions by aggressively rising from sub 102.00 levels all the way to 104.08, with key technical breakouts (ie daily cloud top, 61.8% fib retrac jan-feb fall) occurring in the process.
According to Jim Langlands, Founder at FXCharts: "The dollar is once again struggling to overcome 104.00, although a decent reading from the NFP, may provide the impetus to head higher. The day’s range has only been 30 points and it looks likely to be very quiet until the US data, and the technical points to watch remain pretty much unchanged."
During this week, the pair finally manifested its bullish intentions by aggressively rising from sub 102.00 levels all the way to 104.08, with key technical breakouts (ie daily cloud top, 61.8% fib retrac jan-feb fall) occurring in the process.
According to Jim Langlands, Founder at FXCharts: "The dollar is once again struggling to overcome 104.00, although a decent reading from the NFP, may provide the impetus to head higher. The day’s range has only been 30 points and it looks likely to be very quiet until the US data, and the technical points to watch remain pretty much unchanged."