Back
18 Apr 2013
Forex: CAD/JPY pushes lower post US Jobless miss
FXstreet.com (Barcelona) - Having made a morning high at 96.23, USD/JPY has declined into the US session, and is currently down -0.21% on the day and trading at 95.39.
Having peaked today ahead of the US open, the pair met resistance just below the daily R1 resistance at 96.39 before declining to where it is currently trading at 95.48, where the daily pivot point lies at 95.47. This afternoons data saw US Initial Jobless claims disappoint forecasts at 352k/347K, leading to the small sell off. The next key level of support below can be seen at the psychologically round 95.00 level, where price made a daily low at overnight. Hourly MA´s are indicating a continuation of the downtrend, alongside Stochastics which having crossed just below overbought territory, are heading lower and are currently atr 47. Hourly RSI is at 46 and is not showing any explicit direction bias.
Having peaked today ahead of the US open, the pair met resistance just below the daily R1 resistance at 96.39 before declining to where it is currently trading at 95.48, where the daily pivot point lies at 95.47. This afternoons data saw US Initial Jobless claims disappoint forecasts at 352k/347K, leading to the small sell off. The next key level of support below can be seen at the psychologically round 95.00 level, where price made a daily low at overnight. Hourly MA´s are indicating a continuation of the downtrend, alongside Stochastics which having crossed just below overbought territory, are heading lower and are currently atr 47. Hourly RSI is at 46 and is not showing any explicit direction bias.