#USDJPY @ 135.302 US private hiring surged above estimates; the seesawed but later slipped. (Pivot Orderbook analysis)
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- US private hiring surged above estimates; the USD/JPY seesawed but later slipped.
- ISM Non-Manufacturing PMI climbs in April, despite hiring moderation.
- Traders focus on the US Federal Reserve decision and Powell’s press conference.
The pair currently trades last at 135.302.
The previous day high was 137.78 while the previous day low was 136.31. The daily 38.2% Fib levels comes at 136.87, expected to provide resistance. Similarly, the daily 61.8% fib level is at 137.22, expected to provide resistance.
The USD/JPY tumbled for the second day in a row, influenced by the fall in the US 10-year Treasury bond yield amidst a mixed market sentiment spurred by the Federal Reserve’s (Fed) monetary policy decision looming. Therefore, US Treasury bond yields are falling, particularly the 10-year, which correlates closely to the USD/JPY pair. At the time of writing, the USD/JPY is trading at 135.14, losing 1.03%.
US equities are fluctuating ahead of the Fed’s decision. The US ADP Employment Change report, which reveals how private hiring is going in the country, jumped surprisingly by 296K exceeding estimates of 148K and March’s data of 142K. In addition, data showed that albeit hiring rose, wages cooled down from 14.2% to 13.2%, according to the ADP Research Institute report.
After the report, the USD/JPY edged towards 136.00 before making a U-Turn and plunged 60 pips, towards the 135.40 area, before extending its losses.
Of late, the US ISM Non-Manufacturing PMI in April climbed to 51.9 from 51.2 in March, as shown by data. The report showed that a measure of prices paid held close to its lowest level while hiring moderated.
Due to its Golden Week holidays, an absent Japanese economic agenda keeps investors leaning toward US Dollar (USD) dynamics and market sentiment.
The Federal Reserve would unveil its decision ahead of the session, followed by Chair Powell’s press conference, which USD/JPY traders widely expect.
The USD/JPY daily chart portrays the pair as neutral to downward biased after failing to crack the March 8 high of 137.91, exacerbating a fall below the 200-day SMA at 137.43. In addition, a dark-cloud cover candlestick chart pattern, formed during the last two previous days from today, opened the door for the 1% plus drop, with sellers testing previous the April 19 swing high at 135.14; previous resistance turned support. A breach of the latter will expose 135.00, followed by the 20-day SMA at 134.17. Conversely, if USD/JPY buyers hold the spot above April 19 high, the pair could rally to the 136.00 figure.
Technical Levels: Supports and Resistances
USDJPY currently trading at 135.14 at the time of writing. Pair opened at 136.55 and is trading with a change of -1.03 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 135.14 |
| 1 | Today Daily Change | -1.41 |
| 2 | Today Daily Change % | -1.03 |
| 3 | Today daily open | 136.55 |
The pair is trading above its 20 Daily moving average @ 133.99, above its 50 Daily moving average @ 133.93 , above its 100 Daily moving average @ 132.89 and below its 200 Daily moving average @ 136.99
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 133.99 |
| 1 | Daily SMA50 | 133.93 |
| 2 | Daily SMA100 | 132.89 |
| 3 | Daily SMA200 | 136.99 |
The previous day high was 137.78 while the previous day low was 136.31. The daily 38.2% Fib levels comes at 136.87, expected to provide resistance. Similarly, the daily 61.8% fib level is at 137.22, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 135.99, 135.42, 134.52
- Pivot resistance is noted at 137.45, 138.34, 138.91
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 137.78 |
| Previous Daily Low | 136.31 |
| Previous Weekly High | 136.56 |
| Previous Weekly Low | 133.01 |
| Previous Monthly High | 136.56 |
| Previous Monthly Low | 130.63 |
| Daily Fibonacci 38.2% | 136.87 |
| Daily Fibonacci 61.8% | 137.22 |
| Daily Pivot Point S1 | 135.99 |
| Daily Pivot Point S2 | 135.42 |
| Daily Pivot Point S3 | 134.52 |
| Daily Pivot Point R1 | 137.45 |
| Daily Pivot Point R2 | 138.34 |
| Daily Pivot Point R3 | 138.91 |
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