3 Oct 2014
USD/JPY challenges 109.00
FXStreet (Córdoba) - Following a 200-pip drop, USD/JPY found support at the 108.00 area late New York session and resumed the advance Friday as investors await the US nonfarm payrolls report.
USD/JPY staged a recovery but it was capped by the 109.00 level during the European session and entered a sideways phase as traders remain sidelined ahead of the US employment report. Consensus points to a 215K job gain in September following a weak 142K reading in August.
USD/JPY technical outlook
“Yesterday's slide bottomed at 108.00 and the current bias is positive above 108.45 key intraday support, for a rise through 109.10, en route to 109.50”, said Stoyan Mihaylov, analyst at Deltastock.
USD/JPY staged a recovery but it was capped by the 109.00 level during the European session and entered a sideways phase as traders remain sidelined ahead of the US employment report. Consensus points to a 215K job gain in September following a weak 142K reading in August.
USD/JPY technical outlook
“Yesterday's slide bottomed at 108.00 and the current bias is positive above 108.45 key intraday support, for a rise through 109.10, en route to 109.50”, said Stoyan Mihaylov, analyst at Deltastock.