FxWirePro : GBP/NZD strongly bearish despite upside attempts 
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision 
FxWirePro- Woodies pivot (Major) 
FxWirePro: GBP/AUD gains some upside momentum but still bearish 
FxWirePro: GBP/USD edges higher as traders await BoE guidance and UK fiscal clarity 
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds 
FxWirePro: EUR/ AUD gains some ground , but remains on bearish path 
FxWirePro: EUR/AUD regains upwards momentum but unable to hold above 50%fib level 
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI 
FxWirePro- Woodies pivot (Major) 
FxWirePro: NZD/USD neutral in the near-term, scope for downward resumption 
JPY Pairs Action Bias: EURJPY Leads as Bullish Standout Amid Mixed Momentum 
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level 
USD/JPY chart - Trading View
Spot Analysis:
USD/JPY was trading 0.13% higher on the day at 109.32 at around 05:35 GMT.
Previous Day's High/Low: 109.48/ 109.14
Previous Session's High/Low: 109.37/ 107.64
Fundamental Overview:
A fresh wave of risk-aversion amid deteriorating Sino-Australia trade relations keeps safe-haven dollar bids.
Pre-NFP trading lull may continue to hinder the pair’s performance ahead of Friday’s key US jobs report.
Fed policymakers rejected fears that the latest inflation run-up may trigger monetary policy normalization.
A weaker US ADP unemployment and ISM Services PMI data along with dovish expectations from the Fed keep upside in check.
Looking forward on the data front, U.S. Q1 Nonfarm Productivity and Labor Costs and Initial Jobless Claims for the week ended April 30 will be in focus.
Technical Analysis:
- GMMA indicator supports gains with major and minor trend being bullish on the daily charts
- Price action is consolidating above 200W MA with a Doji formation on the weekly candle till date
- The pair is trading above daily cloud which had proved strong support during the pullback
- Stochs and RSI are sharply higher and support a bullish momentum in the pair
Major Support and Resistance Levels:
Support - 109.22 (5-DMA), 108.90 (converged 200W MA and 21-EMA), 108.74 (20-DMA)
Resistance - 109.81 (Upper BB), 110, 110.67 (88.6% Fib)
Summary: USD/JPY was extending choppy trade around 5-DMA. Technical analysis supports upside in the pair. Focus on Friday's non-farm payrolls data for impetus.
