4 Sep 2013
USD/JPY retests daily highs ahead of Beige Book
FXstreet.com (Córdoba) - The USD/JPY has advanced slightly over the last hours, as investors await the Fed’s Beige Book report for signs on when the central bank will start rolling back asset purchases.
USD/JPY bottomed out at 99.32 at the beginning g of the NY session after US trade deficit for July widened more than expected, but managed to recover somewhat. At time of writing, USD/JPY is trading at the 99.75 zone, a few pips below daily highs.
USD/JPY technical levels
In terms of technical levels, USD/JPY resistances line up at the 99.80/85 area (Sep 3 & 4 highs) and 100.00 (psychological level), while on the other hand, supports are seen at 99.15 (Sep 3 low) and 99.00 (psychological level).
USD/JPY bottomed out at 99.32 at the beginning g of the NY session after US trade deficit for July widened more than expected, but managed to recover somewhat. At time of writing, USD/JPY is trading at the 99.75 zone, a few pips below daily highs.
USD/JPY technical levels
In terms of technical levels, USD/JPY resistances line up at the 99.80/85 area (Sep 3 & 4 highs) and 100.00 (psychological level), while on the other hand, supports are seen at 99.15 (Sep 3 low) and 99.00 (psychological level).