9 Jul 2013
USD/JPY testing session lows
FXstreet.com (New York) - The USD/JPY foreign exchange rate edged lower during Asian trading Tuesday, testing fresh lows in these moments.
USD/JPY still above support
In these moments, the USD/JPY is now losing -0.11%, settling at 100.82. According to Valeria Bednarik, an analyst at FXstreet.com, the USD/JPY will face support at 100.70, ahead of 100.30, and 99.30. Should the pair rally and pare its losses, resistances will initiate at 101.20, onto 101.60.
USD/JPY dip to 99.00 a possibility
“The hourly USD/JPY chart shows indicators in neutral territory, and moving averages still heading higher below current price, with 100 SMA now around 100.30, offering support in case of further losses. Bounces from the indicators may see the pair reattempting to recover the 101.00 area, although once below, a test of 99.90 could be expected.” Bednarik warns.
USD/JPY still above support
In these moments, the USD/JPY is now losing -0.11%, settling at 100.82. According to Valeria Bednarik, an analyst at FXstreet.com, the USD/JPY will face support at 100.70, ahead of 100.30, and 99.30. Should the pair rally and pare its losses, resistances will initiate at 101.20, onto 101.60.
USD/JPY dip to 99.00 a possibility
“The hourly USD/JPY chart shows indicators in neutral territory, and moving averages still heading higher below current price, with 100 SMA now around 100.30, offering support in case of further losses. Bounces from the indicators may see the pair reattempting to recover the 101.00 area, although once below, a test of 99.90 could be expected.” Bednarik warns.