FX.co ★ USD/JPY Aims At 112.00 Psychological Level!

USD/JPY is trading at 111.61 and it could resume its growth if the US data comes in as expected or better. The US Non-Farm Employment Change, Unemployment Rate, and the Average Hourly Earning could shake the price today.

The pair has decreased a little in the last hours, but the USD could take the lead again if the US economic figures will come in line with expectations or better.

USD/JPY Upside Continuation!

USD/JPY has decreased a little and now is almost to retest the weekly R1 (111.36). Staying above this downside obstacle could signal a new upside momentum.

The up-channel is still intact, so USD/JPY could resume its growth and it could approach and reach the R2 (111.94) and the upside line. The bias is bullish, so we could still search for long opportunities.

Trading Conclusion!

The current retreat could help us to catch a new upside movement. Personally, I would like to see a decline towards 110.96 before going long again.

Also, jumping and closing above 111.65 today's high could really signal an upside continuation.