3 Jul 2013
USD/JPY settling at support
FXstreet.com (New York) - The USD/JPY foreign exchange rate has instigated a minor recovery Wednesday, with the markets gripped in risk appetite during US trading.
USD/JPY trading at support
In these moments, the USD/JPY technical pair is still down -0.84%, navigating the region of 99.78 during US trading. Mataf.net analysts postulate the next supports at 99.84, ahead of 99.02, and 98.52.
USD/JPY could turn lower in coming days
According to the TD Securities Team, “The JPY is the G10 outperformer and the USD/JPY could also be heading for an outside range day that would foretell a turn toward lower levels in the days ahead. Considering the large spec net short position out there at the moment, the JPY may be at risk of a short squeeze.”
USD/JPY trading at support
In these moments, the USD/JPY technical pair is still down -0.84%, navigating the region of 99.78 during US trading. Mataf.net analysts postulate the next supports at 99.84, ahead of 99.02, and 98.52.
USD/JPY could turn lower in coming days
According to the TD Securities Team, “The JPY is the G10 outperformer and the USD/JPY could also be heading for an outside range day that would foretell a turn toward lower levels in the days ahead. Considering the large spec net short position out there at the moment, the JPY may be at risk of a short squeeze.”