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5 Feb 2015
USD/JPY steadies ahead of US data
FXStreet (Mumbai) - USD/JPY reversed previous losses and traded in a narrow range during the European session, ahead of a couple of macro releases from the US.
USD/JPY remains on sidelines
Currently, the USD/JPY traded unchanged at 117.37 levels, inching slowly towards intraday high at 117.45 levels. The pair continues to trade in a narrow range amid the lack of economic fundamentals, which places attention on the US labor data due later in the session and the non-farm payrolls due on Friday.
Traders eagerly await US jobless claims and trade balance data later today which may have major impacts on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 117.50 levels and above which it could extend gains 118 levels. To the downside immediate support might be located at 117 levels, below that at 116.86 levels.
USD/JPY remains on sidelines
Currently, the USD/JPY traded unchanged at 117.37 levels, inching slowly towards intraday high at 117.45 levels. The pair continues to trade in a narrow range amid the lack of economic fundamentals, which places attention on the US labor data due later in the session and the non-farm payrolls due on Friday.
Traders eagerly await US jobless claims and trade balance data later today which may have major impacts on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 117.50 levels and above which it could extend gains 118 levels. To the downside immediate support might be located at 117 levels, below that at 116.86 levels.