More from FXstreet.com

Forex: USD/JPY settles at 88.24/25 ahead of US data

By FXstreet.com,  January 04, 2013, 07:09:00 AM EDT

FXstreet.com (Barcelona) - After peaking briefly at 88.35, the USD/JPY has eased slightly to 88.24/25 Friday, as the pair has secured an advance of +1.15% during the latter stages of European trading.

The USD/JPY is trading at levels not seen since July 2010 as the dollar advances across the board. The strong slump in gold following FED Minutes extends today, helping greenback gains. Moreover, "the pair continues to look overbought, although with no signs of changing bias: indicators head higher and higher highs daily basis, suggest the trend holds its full-shape." writes Valeria Bednarik, an independent analyst at FX Street.

Briefing the technicals, the price reaction over the upcoming hours will depend almost exclusively on the economic data out of the United States - including the Nonfarm payrolls - as usually the pair reacts straight to the news: a better than expected readings, will favor a continuation, with 88.60 and 89.10 as next resistance/target areas.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



Latest News Video

Sexual Assault Scandals Rock Military as House Panel Acts
Sexual Assault Scandals Rock Milita...
Shock Over London Killing
Shock Over London Killing           


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.31 0.13  0.97%
PFE $ 29.30 0.52  1.81%
GE $ 23.86 0.20  0.85%
F $ 14.97 0.02  0.13%
MSFT $ 34.61 0.24  0.69%
QQQ $ 73.65 0.62  0.83%
MU $ 10.92 0.31  2.76%
INTC $ 24.07 0.08  0.33%