USD JPY News
8/1/2016 11:00:49 AM
USD/JPY reacted positively and hit a daily peak of 118.82 but quickly turned lower, repeating most of its intraday progress. At time of writing, the pair is trading at 117.75, just a few pips above its opening price. USD/JPY broke above the 100-hour SMA and preceding daily highs to top at 118.82. Though, the pair stays in its weekly range and near 4-month lows as the JPY has been one of the main receivers from the risk-off mood seen during the first week of the year. The JPY weakened during the Asian session. Though, the dollar failed to hold gains in spite of the upbeat US nonfarm payrolls report. The pair is trading at 118.65, up 0.85% on the day. On the upside, immediate stabilities are seen at 119.15 and 119. On the downside, supports could be found at 117.32, 117.00 and 116.16.