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Yen Off Lows, AUD Head Higher Post Strong Employment Data

FOREX
  • USD/JPY is now off multi-years highs made pre-FOMC of 151.82. We have traded lower all through the Thursday session after exports beat, and PMI increase from 50.6 to 52.3 prior. The pair now trades just of the earlier lows of 150.27 at 150.82.
  • The yen is 0.29% higher for the day with focus now on initial support of 149.06/148.50 20- and 50-day EMA values, while initial resistance is 151.82 Mar 20 highs
  • EUR/JPY is lower today tacking wider market moves lower, down 0.18% for the day at 164.92 while still up 1.90% for the past 5-days and just off levels not seen since Sept 2008. To the downside for the pair the next support level holds at 162.59 the 20-day EMA, while a reversal would be met with initial resistance from the overnight highs at 165.35, while above there the 166.00 round number resistance.
  • NZD/USD has pushed higher throughout the day post FOMC and NZ GDP data, the pair now trades just below 0.6100 at 0.6092, a break and hold above 0.6100 would be needed to test the 200-day EMA at 0.6112, tomorrow NZ has Feb Trade Balance data
  • AUD/USD similar to NZD has surged high post FOMC, while AU Employment smashed estimates earlier helping the currency push higher, the pair is now up 1.72% since the overnight lows of 0.6511 and now trades at 0.6623 with the next target now the March 14 highs of 0.6632. AUD/NZD is up 0.30% at 1.0865 as the pair looks to track the AU-NZ 2y swap higher.
  • The main focus ahead will be US Current Account Balance & Job Claims, while Japan has CPI out On Friday.
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