9 Jul 2013
USD/JPY flat for the week above 101.00
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last at 101.16, off recent session highs at 101.24, about flat for the week, following better than expected China CPI at 2.7% y/y vs. 2.5%.
USD/JPY might have seen weekly highs at 101.50
“The shorter term charts have started to point a little lower, so today’s 101.52 high could well remain intact for the coming session but if wrong, above here would suggest a run towards 102 and possibly 102.50,” said FX Charts analyst Jim Langlands, adding: “The dailies do still point higher, but I am not sure that today will be the day.”
USD/JPY key technical levels
Immediate resistance to the upside for USD/JPY shows at mentioned session highs 101.24, followed by yesterday's weekly highs at 101.52, and May 30 highs at 101.82. To the downside, closest support lies at July 03 highs 100.85, followed by recent session/weekly lows at 100.75, and May 24 lows at 100.53.
USD/JPY might have seen weekly highs at 101.50
“The shorter term charts have started to point a little lower, so today’s 101.52 high could well remain intact for the coming session but if wrong, above here would suggest a run towards 102 and possibly 102.50,” said FX Charts analyst Jim Langlands, adding: “The dailies do still point higher, but I am not sure that today will be the day.”
USD/JPY key technical levels
Immediate resistance to the upside for USD/JPY shows at mentioned session highs 101.24, followed by yesterday's weekly highs at 101.52, and May 30 highs at 101.82. To the downside, closest support lies at July 03 highs 100.85, followed by recent session/weekly lows at 100.75, and May 24 lows at 100.53.