USD/JPY Technical Analysis: Greenback stabilizing near 111.50 level awaiting NFP catalyst

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading near 111.50 close to a flat 200 SMA suggesting a sideways market.
The US nonfarm payrolls this Friday can provide high volatility in USD-related pairs.

USD/JPY 4-hour chart

USD/JPY is consolidating above the 200 SMA.

USD/JPY 30-minute chart

USD/JPY is trading above its 50 and 100 SMA while the market is challenging 111.50 and the 200 SMA.
USD bulls seem to be back and they will need to overcome 111.50 to travel to 111.70, 111.90 and to 112.30 if they gather enough steam.
Support is at 111.20 and 111.00 figure.

Additional key levels

USD/JPY

Overview
Today last price	111.51
Today Daily Change	0.13
Today Daily Change %	0.12
Today daily open	111.38

Trends
Daily SMA20	111.71
Daily SMA50	111.35
Daily SMA100	110.68
Daily SMA200	111.5

Levels
Previous Daily High	111.62
Previous Daily Low	111.05
Previous Weekly High	112.4
Previous Weekly Low	111.36
Previous Monthly High	112.4
Previous Monthly Low	110.8
Daily Fibonacci 38.2%	111.27
Daily Fibonacci 61.8%	111.4
Daily Pivot Point S1	111.08
Daily Pivot Point S2	110.78
Daily Pivot Point S3	110.52
Daily Pivot Point R1	111.65
Daily Pivot Point R2	111.92
Daily Pivot Point R3	112.21

Author

Flavio Tosti

Independent Analyst

EUR/USD faces next resistance near 1.1930

EUR/USD continues to build on its recovery in the latter part of Wednesday’s session, with upside momentum accelerating as the pair retargets the key 1.1900 barrier amid a further loss of traction in the US Dollar. Attention now shifts squarely to the US data docket, with labour market figures and the always influential CPI releases due on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.