2 Sep 2013
USD/JPY remains capped by 99.40
FXstreet.com (Córdoba) - The USD/JPY resumed the upside after a short-lived correction that found support at the 99.10 zone.
However, the 99.40 zone continues to cap the upside for the pair with momentum lacking and low volume due to the US holiday. The latest high was 99.37, a few pips below its European session peak of 99.42.
USD/JPY: the bias is bullish
At time of writing, USD/JPY is trading at the 99.35 area, where it records a 1.0% gain on Monday. “The market might still be choppy, but the bias is bullish, and there are no bearish signs outside of the near-term”, says Fan Yang, analyst at FXTimes. “There is still upside toward 100, 101.52 pivot, if not all the way back to the 2013-high of 103.74”.
However, the 99.40 zone continues to cap the upside for the pair with momentum lacking and low volume due to the US holiday. The latest high was 99.37, a few pips below its European session peak of 99.42.
USD/JPY: the bias is bullish
At time of writing, USD/JPY is trading at the 99.35 area, where it records a 1.0% gain on Monday. “The market might still be choppy, but the bias is bullish, and there are no bearish signs outside of the near-term”, says Fan Yang, analyst at FXTimes. “There is still upside toward 100, 101.52 pivot, if not all the way back to the 2013-high of 103.74”.