AUDJPY Extends Five-Day Rampage to Near 115 as Yen Crumbles; Bulls Target 116–117 
FxWirePro: USD/JPY nears 160 as intervention risk intensifies 
NZD/JPY Springs Off 38.2% Fib Support: Triple EMA “Buy the Dip” Setup Eyes 96.15–97 
AUD/JPY Smashes Multi-Week Resistance at 114.73 After Prolonged Consolidation; Triple EMA Setup Targets 117 
GBPJPY Takes a Breather at 215 After Three-Week Rampage; Bulls Reload for 216–217 
FxWirePro: EUR/ NZD stuck in range but outlook is bearish 
FxWirePro- Woodies pivot (Major) 
FxWirePro: GBP/NZD recovers some ground but bearish outlook persists 
FxWirePro: AUD/USD eases amid uncertainty over the U.S.–Iran standoff 
FxWirePro- Woodies pivot (Major) 
FxWirePro- Major European Indices 
GBP/JPY Holds the 215 Line as Yen Momentum Fades; Triple EMA Bulwark Eyes 217 
FxWirePro: EUR/AUD holds narrow range, focus on near-term Support 
Bitcoin Cracks Below $70K: ETF Bloodbath and Iran Tensions Spark Bearish Breakdown as Bears Eye $67K 
FxWirePro: USD/JPY upside capped as intervention risk limit upside 
NZDJPY Catches Its Breath: Bulls Defend 94 Floor With Sights Set on 96–97 
Chart - Courtesy Trading View
Spot Analysis:
USD/JPY was trading 0.07% higher on the day at 114.74 at around 06:30 GMT.
Previous Week's High/ Low: 115.68/ 113.47
Previous Session's High/ Low: 115.19/ 114.56
Fundamental Overview:
Data released overnight showed US ISM PMI Manufacturing Price Index jumped to 78.1 from 68.1.
However, the Manufacturing Prices Index smashed forecasts, climbing to 76.1 from 68.1 estimated, further cementing Fed rate hikes in 2022.
Further, US IHS Markit Manufacturing PMI came at 55.5, slightly up than the 55.0 estimated.
Mixed comments from the US Federal Reserve (Fed) officials and indecision over the Russia-Ukraine issues keep traders wary.
Recent Fedspeak tests the US dollar bulls ahead of the key US jobs report for January, due this Friday.
Focus today will be on US ADP Employment Change for January along with risk catalysts for impetus.
Technical Analysis:
- USD/JPY has snapped a 3-day bearish streak at 21-EMA support
- Price action hovers above 200H MA support, break below will see more weakness
- Stochs and RSI show momentum is still bullish and volatility is high
- GMMA indicator shows major trend is bullish, while minor trend is turning bearish
Major Support and Resistance Levels:
Support - 114.65 (21-EMA), Resistance - 115.01 (5-DMA)
Summary: USD/JPY pivotal at 21-EMA support. Weakness only on break below.
