Still very little change in USDJPY’s technical picture today, but Japanese Finance Minister Azumi certainly upped the rhetoric overnight with regards to possible intervention which makes life a bit more interesting.

As discussed in earlier reports there are no more support levels left below us before the record low 75.54 (seen on 31 Oct), and that could be easily reached if today’s non-farm payrolls disappoint. Even if there is no immediate BoJ buying triggered at 75.54 (the level which triggered the last intervention), the 75.00 psychological level should act as a major barrier.

Above us, resistance remains at 78.29 (29 Nov high), 78.46 (1 Nov high), 79.00 (1 Nov high), and 79.53 (31 Oct high).

MT4 - Still very little change in USDJPY’s technical picture today, but Japanese Finance Minister Azumi certainly upped the rhetoric overnight with regards to possible intervention which makes life a bit more interesting.

As discussed in earlier reports there are no more support levels left below us before the record low 75.54 (seen on 31 Oct), and that could be easily reached if today’s non-farm payrolls disappoint. Even if there is no immediate BoJ buying triggered at 75.54 (the level which triggered the last intervention), the 75.00 psychological level should act as a major barrier.

Above us, resistance remains at 78.29 (29 Nov high), 78.46 (1 Nov high), 79.00 (1 Nov high), and 79.53 (31 Oct high).

MT4 platform and analysis courtesy of Swissquote bank.

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