Japanese Yen Rebounds: Analysis For USD/JPY, EUR/USD, AUD/USD, NZD/USD

USD/JPY Attempts To Settle Back Below 146.00

USD/JPY  is moving lower as traders focus on the pullback in Treasury yields. It looks that some traders have decided to take profits off the table after the strong rebound from the support level at 141.80 – 142.50.

If USD/JPY manages to settle below the 146.00 level, it will head towards the 50 MA at 144.44. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

EUR/USD Moves Lower As Traders Wait For Non Farm Payrolls Data

EUR/USD is losing some ground as traders prepare for the release of Non Farm Payrolls report. The report is expected to show that U.S. economy added 140,000 jobs in September. Unemployment Rate is expected to remain unchanged at 4.2%.

In case EUR/USD declines below the support level at 1.1000 – 1.1015, it will move towards the next support level, which is located in the 1.0900 – 1.0915 range. RSI is in the moderate territory, so there is enough room to gain momentum in the near term.

AUD/USD Is Flat As Traders Wait For Catalysts

AUD/USD is mostly flat as traders focus on the strong rally in the oil markets, which is bullish for commodity-related currencies. The situation in the Middle East will remain the key catalyst for commodity-related currencies in the upcoming trading sessions.

The nearest support level for AUD/USD is located in the 0.6815 – 0.6825 range. A move below 0.6815 will push AUD/USD towards the next support at 0.6750 – 0.6760.

NZD/USD Retreats As Pullback Continues

NZD/USD remains under pressure as pullback continues. Traders have already started to prepare for RBNZ Interest Rate Decision, which will be released next week. RBNZ is expected to cut the rate from 5.25% to 5.0%.

Traders should note that RSI has already moved into the oversold territory, so the risks of a rebound are increasing.

For a look at all of today’s economic events, check out our economic calendar.