collected by :kiven Dixter
The 108.12 Information Systems eyed aboveThe old USDJPY low for 2017 was in April at 108.12.
Yesterday, which standard was breached on the method to a fresh year low of 108.037.
The pair bottomed at 107.312 & the $ rectification in the NY session has sent the pair back up to retest which key level.
The high peaked at 108.07 – only above the swing low from yesterday, however only below the key 108.12 level.
We trade back drop at 107.813, & I have to give the bears the benefit of the Uncertainty below which 108.12 level.
Forex technical analysis: EURUSD whips around on Draghi comment
Forex technical analysis: USDCAD whips around after mixed report
Jobs a bit higher however the mix isn’t very great.
The Canada jobs report on the surface looks ok by the unemplioyment average reduce & 22K jobs added (vs 15k est), however the mix of complete (-88.1K) compare fraction time (+110.4) wasn’t the best.
The value action saw the value whip around by the value moving higher however then back lower.
We are this day looking to retest the highs another time as the value continues the whip.
The longer term view Information Systems continue not very great, however the buyers (profit takers) are trying to push a little