1 Aug 2013
USD/JPY peaks at 99.50
FXstreet.com (New York) - The USD/JPY foreign exchange rate has benefitted from a surge in the USD Thursday, reaching the heights of 99.52 (intraday high) during US trading.
At the time of writing, the USD/JPY is now settling at 99.44, slightly below its recent highs, still securing a gain of +1.58% above its opening. Technically speaking, the pair’s ascension will test resistances at 98.62, onto 98.93, calculates the Mataf.net analyst team.
USD/JPY strategic bias
According to Global FX Strategist Sean Callow at Westpac, “The BoJ will take center stage next week, but we maintain our view that they can do little more at the moment. The LDP now has control of both the upper and lower house. However, we will have to wait until the fall for fresh policy developments here including a decision on the consumption tax. As we have noted for several weeks now, we remain buyers of dips, but at the risk of missing a move higher, we wait for a dip back towards 97/98.00.”
At the time of writing, the USD/JPY is now settling at 99.44, slightly below its recent highs, still securing a gain of +1.58% above its opening. Technically speaking, the pair’s ascension will test resistances at 98.62, onto 98.93, calculates the Mataf.net analyst team.
USD/JPY strategic bias
According to Global FX Strategist Sean Callow at Westpac, “The BoJ will take center stage next week, but we maintain our view that they can do little more at the moment. The LDP now has control of both the upper and lower house. However, we will have to wait until the fall for fresh policy developments here including a decision on the consumption tax. As we have noted for several weeks now, we remain buyers of dips, but at the risk of missing a move higher, we wait for a dip back towards 97/98.00.”