19 Sep 2013
USD/JPY struggling to hold above 98 after FOMC
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading at 98.12 off recent fresh 3-week lows printed at 97.75 on the back of no taper coming from the FOMC, and Nikkei futures pointing for a higer open above +1%.
USD/JPY technically bearish
“Yen advances are being limited by stocks advance with the USD/JPY struggling right above the 98.00 level,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Technically bearish, the pair may resist selling attempts if local share markets decide to run up. Immediate support stands at 97.90 ahead of a daily ascendant trend line around 97.30: only below this last the bears will gain full control of the pair.”
USD/JPY key technical levels
Bednarik finds support levels at: 97.90, 97.30 and 96.80, while resistance levels at: 98.50, 98.80 and 99.10.
USD/JPY technically bearish
“Yen advances are being limited by stocks advance with the USD/JPY struggling right above the 98.00 level,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Technically bearish, the pair may resist selling attempts if local share markets decide to run up. Immediate support stands at 97.90 ahead of a daily ascendant trend line around 97.30: only below this last the bears will gain full control of the pair.”
USD/JPY key technical levels
Bednarik finds support levels at: 97.90, 97.30 and 96.80, while resistance levels at: 98.50, 98.80 and 99.10.