11 Nov 2013
USD/JPY hits fresh daily highs
FXstreet.com (Córdoba) - The USD/JPY shrugged off the negative tone seen during the Asian session and recovered ground to trade positively during the NY trade.
After being rejected from the 99.22 area, the USD/JPY fell to a low of 98.92, weighed by a larger than expected Japan current account deficit, before the 21-day SMA offered support. The USD/JPY resumed the upside then and has climbed over 35 pips from lows to a fresh daily high of 99.28. At time of writing, USD/JPY is trading at the 99.25 zone, a few pips above its opening price.
USD/JPY technical levels
In terms of technical levels, next resistances for USD/JPY are seen at 99.40 (Nov 7 high) and 99.66 (Sep 20 high). On the other hand, supports could be found at 98.92 (daily low) and 98.58 (100-day SMA).
After being rejected from the 99.22 area, the USD/JPY fell to a low of 98.92, weighed by a larger than expected Japan current account deficit, before the 21-day SMA offered support. The USD/JPY resumed the upside then and has climbed over 35 pips from lows to a fresh daily high of 99.28. At time of writing, USD/JPY is trading at the 99.25 zone, a few pips above its opening price.
USD/JPY technical levels
In terms of technical levels, next resistances for USD/JPY are seen at 99.40 (Nov 7 high) and 99.66 (Sep 20 high). On the other hand, supports could be found at 98.92 (daily low) and 98.58 (100-day SMA).