Shocking US data came out to retrieve back fears in the US economy, unemployment jumping up to 5.5% as this is considered to be the biggest gain in 1986, the existence of those worse than expected news pointed out that the growth of the feds land will remain soft if it really did not dip more and more in a recession.
Due to the negative data released on Friday most currencies gained against the US dollar, especially the Euro because it just needed some momentum to make it skyrocket once again to all time high levels. Yet due to this surge the pair is falling in an overbought area making badly need a slight correction in order to continue its bullish movement, but still eyes are all headed toward the US data for this week, whereas market participants are just waiting for more confirmations to see to what level of recession the US had fell into.
Secondly the Royal currency was boosted indeed, retrieving some of the losses that they faced in the past week, where the trading range for the next couple of hours might be falling between 1.9752 and 1.9614; the technical indicators really points out some chances to see the pair climbing against the US dollar, but still slight correction might be taking place.
The USD/JPY pair fell from the 106 levels affected by the negative data which where released on Friday, as now it's trading at 105.24 levels; and technically the pair might be continuing the heading to the down or at least trading in the 105 levels and the trading range for today falls between 106.21 and 104.60.
Due to the negative data released on Friday most currencies gained against the US dollar, especially the Euro because it just needed some momentum to make it skyrocket once again to all time high levels. Yet due to this surge the pair is falling in an overbought area making badly need a slight correction in order to continue its bullish movement, but still eyes are all headed toward the US data for this week, whereas market participants are just waiting for more confirmations to see to what level of recession the US had fell into.
Secondly the Royal currency was boosted indeed, retrieving some of the losses that they faced in the past week, where the trading range for the next couple of hours might be falling between 1.9752 and 1.9614; the technical indicators really points out some chances to see the pair climbing against the US dollar, but still slight correction might be taking place.
The USD/JPY pair fell from the 106 levels affected by the negative data which where released on Friday, as now it's trading at 105.24 levels; and technically the pair might be continuing the heading to the down or at least trading in the 105 levels and the trading range for today falls between 106.21 and 104.60.