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2 Apr 2014
USD/JPY for 104?
FXStreet (Guatemala) - Currently, USD/JPY is trading at 103.75, up 0.11% on the day, having posted a daily high at 103.95 and low at 103.58.
The dollar is trading at its best level against the Japanese since last January, as noted by the Global Currency Strategy Team at Brown Brothers Harriman. “
“It seems that the combination of Japan’s retail sales tax hike, easing of tensions in both Turkey and Russia, and the firm US data and higher US Treasury yields have lifted the dollar to near JPY104”.
US data positive
ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise.
USD/JPY Levels
Spot is presently trading at 103.75, and next resistance can be seen at 103.79 (Weekly Classic R2), 103.89 (Daily Classic R1), 103.95 (Daily High), 104.13 (Daily Classic R2) and 104.53 (Daily Classic R3). Next support to the downside can be found at 103.73 (Yesterday's High), 103.70 (Hourly 20 EMA), 103.65 (Daily Open), 103.65 (Monthly High) and 103.65 (Weekly High).
The dollar is trading at its best level against the Japanese since last January, as noted by the Global Currency Strategy Team at Brown Brothers Harriman. “
“It seems that the combination of Japan’s retail sales tax hike, easing of tensions in both Turkey and Russia, and the firm US data and higher US Treasury yields have lifted the dollar to near JPY104”.
US data positive
ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise.
USD/JPY Levels
Spot is presently trading at 103.75, and next resistance can be seen at 103.79 (Weekly Classic R2), 103.89 (Daily Classic R1), 103.95 (Daily High), 104.13 (Daily Classic R2) and 104.53 (Daily Classic R3). Next support to the downside can be found at 103.73 (Yesterday's High), 103.70 (Hourly 20 EMA), 103.65 (Daily Open), 103.65 (Monthly High) and 103.65 (Weekly High).