FxWirePro- Major European Indices 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path 
FxWirePro: AUD/USD edges higher ahead of RBA meeting minutes 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro:EUR/AUD eases but bullish outlook persists 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 
USD/JPY chart - Trading View
Spot Analysis:
USD/JPY was trading 0.44% higher on the day at 112.69 at around 05:45 GMT
Previous Week's High/ Low: 112.25/ 110.82
Previous Session's High/ Low: 112.25/ 111.51
Fundamental Overview:
USD/JPY hit new multi-month high versus the yen as the pair extend bull run for the 3rd straight month.
Disappointing figures from the latest U.S. NFP report did not alter market expectations regarding the U.S. Federal Reserve's asset tapering plans.
The U.S. jobs report Friday disappointed market expectations with non-farm payrolls at 194,000 and the unemployment rate at 4.8% in September.
Despite a weak headline payroll figure, the outlook remains solid. With labor shortages still a possibility and fanning inflation concerns, the Fed is likely to begin asset tapering as soon as November 2021.
Focus now on the consumer price index (due Wednesday). Upbeat data could stoke expectations of an earlier interest rate hike and bring further gains for the USD.
Technical Analysis:
- USD/JPY extends bullish streak for the 6th straight week
- Channel breakout on the daily charts adds to the bullish bias
- Momentum is strongly bullish, volatility is high and rising
- MACD, ADX and the GMMA indicator support further gains
Major Support and Resistance Levels:
Support - 112 (psychological mark and channel top), Resistance - 113.02 (88.6% Fib)
Summary: USD/JPY trades with a bullish bias. Scope for test of 113 mark.
