23 Jul 2013
USD/JPY falls below 99.50
FXstreet.com (San Francisco) - The USD has continued in the late American session with its decline against the Japanese yen and after falling around 85 pips from 100.20, the USD/JPY is back to prices traded in the European session at 11.35.
Currently, the USD/JPY is trading around 99.45, 0.20% down on the day. The short term perspective is slightly bearish according to the Fxstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
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 99.20 and 98.80.
Currently, the USD/JPY is trading around 99.45, 0.20% down on the day. The short term perspective is slightly bearish according to the Fxstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
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 99.20 and 98.80.