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Pre NFP Analysis: USD/JPY Make It or Break It

May 04, 2018 10:54

Today's focus will be the NFP with all related data such as the Average Hourly Earnings (wages). This will be the main driver for today and possibly the next week too.109.45-55 is the important zone to watch for further reaction from the USD/JPY. Above 109.55 the price could bounce to 109.71and 110.14. Only above 110.14 the target is 110.93, and that might only happen during next week. I don't think it will happen today due to the ATR of the USD/JPY. Below 109.45 targets are 109.2- followed by 108.92. Below 108.90, the target is 108.50.

Watch for the US data today and be careful with placing positional trades prior to NFP.

Source: Admiral Markets MT5 with MT5SE Add-on

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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