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

USD/JPY Remains Stuck Near 144.00

USD/JPY settled near the 144.00 level as traders reacted to Consumer Confidence report from Japan. The report indicated that Consumer Confidence increased from 36.7 in August to 36.9 in September, compared to analyst consensus of 37.1.

From the technical point of view, USD/JPY continues its attempts to move out of the downward channel. If USD/JPY settles above 144.00, it will head towards the nearest resistance level, which is located at the recent highs at 146.00 – 146.50.

EUR/USD Is Flat As Traders Wait For U.S. Jobs Data

EUR/USD is flat as traders wait for the ADP Employment Change report from the U.S. The report is expected to show that private businesses added 120,000 jobs in September. Job market data is an important catalyst for Fed policy outlook, so the report may have a material impact on forex market dynamics.

In case EUR/USD manages to settle below the 1.1050 level, it will gain additional downside momentum and move towards the nearest support at 1.1000 – 1.1015.

AUD/USD Gains Ground Amid Rising Demand For Commodity-Related Currencies

AUD/USD is moving higher amid rising demand for commodity-related currencies, which was triggered by tensions in the Middle East.

Currently, AUD/USD is trying to settle back above the nearest support level, which is located in the 0.6890 – 0.6900 range. If AUD/USD climbs above 0.6900, it will head towards the resistance at 0.6960 – 0.6970. RSI is in the moderate territory, so there is plenty of room to gain momentum in the near term.

NZD/USD Attempts To Settle Above The 50 MA

NZD/USD is also moving higher, supported by demand for commodity-related currencies.

NZD/USD is trying to climb above the 50 MA at 0.6298. In case this attempt is successful, NZD/USD will move towards the nearest resistance level at the recent highs at 0.6360 – 0.6370.

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