Source: PaxForex Premium Analytics Portal, Technical Insight

White House adviser Kevin Hassett said today that he expects employment growth of 3.5-4 million in June, but added that stimulation will be necessary even if the data exceed forecasts. He also noted that another incentive program will be adopted in August.

USD/JPY, 30 min

Pivot: 107.55

Analysis:

Provided that the currency pair is traded below 108.00, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 107.55
• Take Profit 1: 107.40
• Take Profit 2: 107.05

Alternative scenario: 

In case of breakout of the level 108.00, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 108.00
• Take Profit 1: 108.25
• Take Profit 2: 108.55

Comment:

As long as the resistance of 108.00 is not broken-out, the risk of breakdown below 107.40 remains high. 

Key levels:

USD/JPY, D1

Pivot: 108.10

Analysis:

While the price is above 107.45, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 108.10
• Take Profit 1: 111.20
• Take Profit 2: 112.20

Alternative scenario:

If the level 107.45 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 107.45
• Take Profit 1: 106.00
• Take Profit 2: 105.15

Comment:

RSI shows a medium-term uptrend.

Key levels:

We also advise you to pay attention to the following currency pairs for intra-day trading:

EUR/USD – buy above 1.1315 with 1.1385 and 1.1400 as Take Profit targets. Alternative scenario - if the level of 1.1315 is broken-down, you should consider selling with the targets 1.1280 and 1.1260 as Take Profit.
GBP/USD - long positions above 1.2700 with 1.2770 and 1.2800 targets as Take Profit. Alternative scenario - if the level of 1.2700 is broken-down, sell with the targets 1.2660 and 1.2630 as Take Profit.
USD/CAD - sell below 1.3425 with 1.3365 and 1.3350 targets as Take Profit. Alternative scenario - if the level 1.3425 is broken-out, buy with the TP 1.3455 and 1.3485.