25 Jul 2013
USD/JPY plunges to session lows
FXstreet.com (New York) - The USD/JPY foreign exchange rate fell deeper Thursday, presently establishing fresh lows at the time of writing near the 99.50 region.
USD/JPY strategic bias
Having begun a decent on the heels of mixed US data earlier, the USD/JPY is now operating at 99.51, now down -0.75% off its opening during US trading. Technically speaking, after falling below the 99.63 support, the Danske Research Team calculates the USD/JPY will be buffered by supports at 99.40, ahead of 98.88.
According to the Technical Analyst Team at ICN.com, “The USD/JPY dropped in an attempt to stabilize below 99.70. Stability below the referred to level might trigger another bearish wave, which means breaking 23.6% correction and the possibility of testing 38.2% correction becomes probable. Negativity might extend and trading below 100.35 is now considered negative.”
USD/JPY strategic bias
Having begun a decent on the heels of mixed US data earlier, the USD/JPY is now operating at 99.51, now down -0.75% off its opening during US trading. Technically speaking, after falling below the 99.63 support, the Danske Research Team calculates the USD/JPY will be buffered by supports at 99.40, ahead of 98.88.
According to the Technical Analyst Team at ICN.com, “The USD/JPY dropped in an attempt to stabilize below 99.70. Stability below the referred to level might trigger another bearish wave, which means breaking 23.6% correction and the possibility of testing 38.2% correction becomes probable. Negativity might extend and trading below 100.35 is now considered negative.”