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10 Jan 2014
USD/JPY up slightly as Nikkei opens lower
FXstreet.com (Córdoba) - The USD/JPY rose moderate after markets open in Tokyo and reached a fresh daily high at 104.90. Stocks in Japan open lower, with the Nikkei 225 falling 0.12% after 20 minutes.
Since the beginning of the European session the USD/JPY has been trading in a small range, with support above 104.65 and resistance at 105.00. During the American session price made a quick drop to 104.57 but rebounded quickly, back to the range.
USD/JPY likely limited ahead of NFP
During the Asian session trading is expected to be limited and probably quiet, ahead of the US non-farm payrolls report to be released at 13:30 GMT. According to Valeria Bednarik, Chief Analyst at FXstreet.com the 4 hour chart indicators hold in positive territory, yet lacking direction; “but at the end, next leg will depend solely on US employment figures.”
Since the beginning of the European session the USD/JPY has been trading in a small range, with support above 104.65 and resistance at 105.00. During the American session price made a quick drop to 104.57 but rebounded quickly, back to the range.
USD/JPY likely limited ahead of NFP
During the Asian session trading is expected to be limited and probably quiet, ahead of the US non-farm payrolls report to be released at 13:30 GMT. According to Valeria Bednarik, Chief Analyst at FXstreet.com the 4 hour chart indicators hold in positive territory, yet lacking direction; “but at the end, next leg will depend solely on US employment figures.”