USD/JPY Forecast: Holding below 114.00 after mixed Payrolls

Valeria Bednarik FXStreet

USD/JPY Current price: 113.90

View Live Chart for the USD/JPY

Holding below 114.00 after mixed Payrolls. The USD/JPY pair fell down to 113.47, a fresh 2-day low following the release of mixed US employment figures, with the pair retreating further from the multi-month high set this week at 114.82. Selling interest around 114.00 is keeping the upside limited, although the bearish momentum remains limited in the pair, according to the 1 hour chart, as the price is holding above a bullish 100 SMA, while technical indicators lack directional strength within neutral territory. In the 4 hours chart, the pair remains mostly neutral with the price well above a bullish 100 SMA, the RSI holding around 59, and the Momentum holding within positive territory with no clear directional strength. A recovery above 114.10 could see the pair resuming its advance and retest the mentioned high.

Support levels: 113.45 113.10 112.70

Resistance levels: 114.10 114.45 114.90

Interested in USD/JPY technicals? Check out the key levels

1. R3 115.65
2. R2 115.24
3. R1 114.64
PP 114.24
1. S1 113.63
2. S2 113.23
3. S3 112.62

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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