USD/JPY Technical Analysis Outlook
NON-FARM PAYROLLS AND UNEMPLOYMENT DATA (USA) ,this event is a very Significant indicator on the usd/jpy, the results showed 151k growth in August, below the expectation of 188k. Prior month’s figure was revised up from 255k to 275k but couldn’t make up the shortfall. Unemployment rate was unchanged at 4.9% versus expectation of a fall to 4.8%
The results were mixed but USD/JPY rose further to as high as 104.31 last week ,now we need to focus on 104.60 level break this level could build up momentum to power through 107.48 resistance, which indicates a larger trend reversal. On the downside, break of 102.60 minor support will turn bias back to the downside for 98.97 support again
Break of 107.48 resistance is needed as the first sign of medium term bottoming and send the usd jpy to 111 area
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
