FX.co ★ USD/JPY Daily Outlook for May 06th / 2011

DAILY OUTLOOK :

After the strong downtrend, the USD/JPY hit the Fibonacci Support 61.8% at the 79.92 yesterday, this pair was pushed to the upside again until it closed above that level at the 80.09. Today during the US - Unemployment Rates and the Non Farm Payrolls data released this night this pair traded between the 80.09 to the 80.63 level and seems the 79.92 to the mark 81.00 will be the boundary for this pair today. Please pay attention too for the Divergence that appears at the Stochastic studies (8,3,3) with the price (green line).