Despite the miss in ADP Non-Farm Employment report (185K vs. 216K expected, 229K previous), USD/JPY didn't fell far and promptly reversed. Solid Markit Final Services PMI (55.7 vs. 55.2 expected, 55.2 previous) and much better than expected ISM Non-Manufacturing PMI (60.3 vs. 56.3 expected, 56.0 previous) then propelled it through the strong 124.50 resistance to the highest since early June.

125 level, where it stalled, is now the initial resistance. 125.40 - 125.50 band (Weekly Resistance 2, Monthly Resistance 1, 50's) comes next, before the cycle-high (125.80), set in June. Broken 124.50 level shall now act as a decent support in the dips.

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