Negative at Yen, Reactive Prepare For U.S. NFP Data. USD / JPY spent the day trading in a range with negative bias, after falling to a daily low at 81.19 from its previous high at 82.60 before closing at 82.38.
"USD / JPY is likely to react immediately to the news of the U.S. workforce, soaring with weakened if a positive number and a negative data releases show up," said Valeria Bednarik, Chief Analyst at FXstreet.com. "Of course, if there is a strong deviation between the actual data and estimates, the closer the hope to be able to keep the yen in its new range of 81.80/82.60."
Technically, Ms. Bednarik said the indicators were flat in the neutral zone, giving little hint of the direction. However, if we consider the period of time is higher, the most obvious resistance: NORTH (weaker yen). Daily period illustrates the sequence divergence moving average for the yen, showing bullish trend momentum, and chart the weekly period looks ready to print second pin inside-week, as the market consolidates recent movements Yen. If bullish signals noted above 82.60/80 resistance area (Fibo 78.6%, a decrease 84.16/77.12) realized in the next few weeks, there may be room for the yen to run to 84.00 (high level in March 2012). Next bullish target is located at 85.50.
Oil inventories fell associated with ECB
U.S. crude oil contract on the Nymex on Friday moved down lower than the decline Wednesday, with a few traders in line with the falling price related weekly crude oil inventory data. Prices have been lowered for 3 days in a row. The analysts also cited the current price movement associated weak economic forecasts from the ECB. NYMEX crude oil contract in January fell 1.8% to $ 86.26 per barrel.
"USD / JPY is likely to react immediately to the news of the U.S. workforce, soaring with weakened if a positive number and a negative data releases show up," said Valeria Bednarik, Chief Analyst at FXstreet.com. "Of course, if there is a strong deviation between the actual data and estimates, the closer the hope to be able to keep the yen in its new range of 81.80/82.60."
Technically, Ms. Bednarik said the indicators were flat in the neutral zone, giving little hint of the direction. However, if we consider the period of time is higher, the most obvious resistance: NORTH (weaker yen). Daily period illustrates the sequence divergence moving average for the yen, showing bullish trend momentum, and chart the weekly period looks ready to print second pin inside-week, as the market consolidates recent movements Yen. If bullish signals noted above 82.60/80 resistance area (Fibo 78.6%, a decrease 84.16/77.12) realized in the next few weeks, there may be room for the yen to run to 84.00 (high level in March 2012). Next bullish target is located at 85.50.
Oil inventories fell associated with ECB
U.S. crude oil contract on the Nymex on Friday moved down lower than the decline Wednesday, with a few traders in line with the falling price related weekly crude oil inventory data. Prices have been lowered for 3 days in a row. The analysts also cited the current price movement associated weak economic forecasts from the ECB. NYMEX crude oil contract in January fell 1.8% to $ 86.26 per barrel.
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