We’ve now knocked out the Dec 2007 highs at 114.65 with a post of 114.74. We could start running into some resistance traffic from 115 and 115.30/40 is an area I’m looking at to maybe give us a bit more resistance.
USD/JPY Monthly chart 05 11 2014
114.50/60 will be support on a move back down followed by 114.20/25.
Watch the big figure as always and the market will be looking for clues from the ADP jobs report in just over 30 minutes. Expectations point to 220k jobs in October, slightly up from 213k in September.
