USD/JPY technical analysis: Greenback loses the 107.00 figure against Yen after NFP
|- USD/JPY loses bullish momentum this Friday as the NFP (Non-farm Payrolls) data disappoints.
- The levels to beat for bears is at the 106.70 support level, according to the Technical Confluences Indicator.
USD/JPY daily chart
USD/JPY is trading in a bear trend below the main daily simple moving averages (DSMAs). The market has tested the 107.00 figure and the 50 SMA on the daily time-frame. Earlier in the New York session, the Non-farm Payrolls (NFP) in the United States (US) came in below expectations with only 130K jobs added in August vs. 158K forecast. However, the wages, the Average Hourly Earnings, beat expecations with 3.2% vs. 3.1% forecast.
USD/JPY 4-hour chart
USD/JPY is challenging the 106.31 support level above the main SMAs. Bulls would need a daily close above 106.98 resistance to generate buying interest, according to the Technical Confluences Indicator.
USD/JPY 30-minute chart
Dollar/Yen is retreating from the weekly below the 50 SMA, suggesting a potential correction down in the near term. It is likely that bear will try to break below 106.70 to reach 106.32 price level next week, according to the Technical Confluences Indicator.
Additional key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.