USD/JPY flat and contained by 50 Shourly MA
FXStreet (Guatemala) – USD/JPY is flat in the US session, capped by the 50 SMA on the hourly chart while the market sits back and reflects.
USD/JPY has been under pressure below the 200 DMA at 120.78 today, and was unable to make any further advances on the rebound from the lows of 119.21 at the start of this month. The uncertainty in markets is keeping a lid on the major while global equities remain volatile.
With the dust settled after the Nonfarm Payrolls release, which supports a possible rate hike this month from the Fed, USD/JPY’s fate in the run up to the FOMC and rate decision on the 17th will depend up on sentiment towards a rate hike and performances in global stocks likely to be driven by news on the Chinese economy still.
USD/JPY levels
Technically, 120.80/00 level remains as a key resistance, aligning with the 200 DMA. On further supply and a low of the 119 handle, 118.33/25 and March lows guard the 116.15/115.85 2015 low and the recent low.
USD/JPY is flat in the US session, capped by the 50 SMA on the hourly chart while the market sits back and reflects.
(Market News Provided by FXstreet)