The drop in consumer confidence in the U.S over the lack of improvement in the jobs market fail to withdraw the USD/JPY from attaining 109.7 before trading closed yesterday
Asian session trading today saw Asian stocks falling, with USD/JPY reaching 110 range
Fibonacci Extension for the short term trend has come to an end at 110 but technical indicators still show that the Yen is weak and not yet oversold.
China and Japan's Manufacturing PMI this morning attained the estimates for the month of September, and levels above 50 signals an expansion. China begins its 1 week holidays today. Asian markets fell as the lack of consumer confidence in the U.S due to lack of maximum utility of the jobs markets affected the USD momentarily, but no spillover was in sight for the USD/JPY as 110 is attained, last seen at 110.56 in August 2008
Trend Direction |
S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
Entry |
Stop Loss |
Exit |
| Bullish / Near resistance | 108.9 | 109.36 | 109.8 | 110 | 110.47 | 111.16 |
