The Dollar
has been strengthening during the whole week, supported by the strong
fundamentals out of the US. It seems like the Greenback is taking a breather
today, but we must keep in mind that tomorrow we have the Non-Farm Payrolls
report, which is expected to show that the US economy has created 230 thousand
new jobs during the month of July.
If the
reading comes out in line or better than expected, then we may see the USD/JPY
try to break above the 103.00 level where it has stall its rally for now, as
shown on the daily chart below. Today´s daily candlestick has formed as a Doji
and this is an indication that the pair is very undecided at the moment. This
is most probably due to the fact that the markets usually go into a quiet mode
before the NFP report.
helpful information
ReplyDeleteNFP made price return to SMA 200
ReplyDeletenegative data the doji's condition for reversal has been met
ReplyDeleteThe doji is not nice
ReplyDeleteinterested post.
ReplyDeleteThank you for the analysis i'll keep an eye.
ReplyDeleteUsd/jpy may try to break 103 but not without a fight.
ReplyDelete