USD/JPY 15min chart 2/1/2013 10:35AM EST
NFP Shake: The USD/JPY consolidated ahead of the NFP. The employment data for January came in at 157K, slightly disappointing, missing last month’s revised up 196K and but close to the 161K avg. forecast according to Forexfactory.com. As you can see in the 15-min chart. There is a dip below the the consolidation support, and 92.00 psychological handle, However, this dip was short-lived before a rally pushed through a new high on the day.Bullish continuation? So far, it appears the bulls have regained control after the NFP shake. There is a little throwback as I wrap this up. I think the middle of that previous range around 92.10-92.15 is a key area. Staying above shows bullish control, while breaking below shows continuing consolidation, which could be a prelude to some further bearish correction in the short-term.
Recommended Content
Editors’ Picks
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
US Q1 GDP Preview: Economic growth set to remain firm in, albeit easing from Q4
The United States Gross Domestic Product (GDP) is seen expanding at an annualized rate of 2.5% in Q1. The current resilience of the US economy bolsters the case for a soft landing.