USDJPY: Back above 113.00

USDJPY: 113.10

US$Jpy is back above 113.00, accelerating higher at the end of the US session on hope of a solid NFP report later today.

1 hour/4 hour indicators: Up

Daily Indicators: Turning higher

Weekly Indicators:  Neutral

Preferred Strategy:  The dollar looks pretty firm on all fronts now and trading from the long side is preferred, with a solid NFP reading likely to see a test of 113.30 and possibly 114.00. A poor number would have us back at 112.00 and a break of strong support at 111.60 may lead to stops being triggered and lead the dollar back towards 110.85/111.00 although I don’t see it happening today.

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