USDJPY: Back above 113.00

Jim Langlands FX Charts

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.

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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