23 Jul 2013
USD/JPY steadies below 100.00
FXstreet.com (Córdoba) - Despite a recovery attempt, USD/JPY failed to sustain gains above the 100.00 mark and pulled back as the greenback weakened broadly during the New York trade.
USD/JPY consolidates between MA's
USD/JPY fell back below the 100.00 mark and the 100-hour SMA, sliding to a session low of 99.65 before the 20-hour SMA offered support. At time of writing, USD/JPY is trading at the 99.75 area, only a few pips above its opening price.
USD/JPY unable to hold above 100.00
Valeria Bednarik, chief analyst at FXstreet.com notes that USD/JPY is still unable to show follow through above 100.00. “Yet, only steady gains above 100.30 resistance area will favor a stronger advance in the pair”, says Bednarik. Meanwhile, the analyst locates immediate supports at 99.50, 99.20 and 98.80.
USD/JPY consolidates between MA's
USD/JPY fell back below the 100.00 mark and the 100-hour SMA, sliding to a session low of 99.65 before the 20-hour SMA offered support. At time of writing, USD/JPY is trading at the 99.75 area, only a few pips above its opening price.
USD/JPY unable to hold above 100.00
Valeria Bednarik, chief analyst at FXstreet.com notes that USD/JPY is still unable to show follow through above 100.00. “Yet, only steady gains above 100.30 resistance area will favor a stronger advance in the pair”, says Bednarik. Meanwhile, the analyst locates immediate supports at 99.50, 99.20 and 98.80.