25 Jul 2013
USD/JPY flirting with 100.00
FXstreet.com (London) - USD/JPY wants to rebase itself above the figure in absence of any data until this afternoon.
USD/JPY is still in recovery mode since losing its grip on the 102.00 handle back in May. This week, traders will finally have something to get their teeth stuck into with the release of US Durable Goods (Jun) released a little later on today and Japanese CPI overnight. Friday brings us to a close with the Michigan Consumer Sentiment Index for Jul.
USD/JPY crossing the line
The pair had remained capped while the pair struggled to cross above 99.80, this formed a descending resistance line from 100.80/90. The pair is now in a better position to excel itself through this barrier and recover through 100.00. The base of the cloud will be protecting 96.75/95.40 en route to the recent lows, 93.75 and above 101.60 brings the May highs into focus en rout for 105.00 areas. First target post 100.00 is 100.65.
USD/JPY is still in recovery mode since losing its grip on the 102.00 handle back in May. This week, traders will finally have something to get their teeth stuck into with the release of US Durable Goods (Jun) released a little later on today and Japanese CPI overnight. Friday brings us to a close with the Michigan Consumer Sentiment Index for Jul.
USD/JPY crossing the line
The pair had remained capped while the pair struggled to cross above 99.80, this formed a descending resistance line from 100.80/90. The pair is now in a better position to excel itself through this barrier and recover through 100.00. The base of the cloud will be protecting 96.75/95.40 en route to the recent lows, 93.75 and above 101.60 brings the May highs into focus en rout for 105.00 areas. First target post 100.00 is 100.65.