3 Jul 2013
USD/JPY hits fresh lows ahead of US data
FXstreet.com (Córdoba) - The USD/JPY extended its decline ahead of the New York session and the release of a string of USD indicators.
USD/JPY falls below 100-hour SMA, data eyed
USD/JPY broke below the 99.50 area which had acted as support along the last 5 sessions and dipped to a fresh 2-day low of 99.25 in recent dealings as investors await the US ADP employment report.
At time of writing, USD/JPY is trading at the 99.40 zone, just below the 100-hour SMA and recording a 1.2% daily loss. As for technical levels, immediate supports could be found at 99.15 (Jul 1 low) and 99.00 (psychological level), while resistances could now be faced at 99.50 and 100.00.
USD/JPY falls below 100-hour SMA, data eyed
USD/JPY broke below the 99.50 area which had acted as support along the last 5 sessions and dipped to a fresh 2-day low of 99.25 in recent dealings as investors await the US ADP employment report.
At time of writing, USD/JPY is trading at the 99.40 zone, just below the 100-hour SMA and recording a 1.2% daily loss. As for technical levels, immediate supports could be found at 99.15 (Jul 1 low) and 99.00 (psychological level), while resistances could now be faced at 99.50 and 100.00.