29 Jul 2013
USD/JPY trims losses ahead of the NY open
FXstreet.com (Córdoba) - The USD/JPY is trimming losses into the American opening as the greenback picks up pace across the board.
USD/JPY struggles to regain 98.00
The USD/JPY broke below 98.00 and hit its lowest in a month at 97.63 during the Asian session before finding support. With North American traders joining the market, USD/JPY managed to gather momentum and rose to retest the 98.00 psychological level.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at the 97.95/98.00 zone, still a few pips below its opening price. USD/JPY opened the day below the 100-day SMA, which stands as initial resistance at 98.45, followed by 98.60 (hourly low Jul 26). On the other hand, supports are seen at 97.63 (daily low) and 97.23 (Jun 26 low) ahead of 96.95 (Jun 25 low).
USD/JPY struggles to regain 98.00
The USD/JPY broke below 98.00 and hit its lowest in a month at 97.63 during the Asian session before finding support. With North American traders joining the market, USD/JPY managed to gather momentum and rose to retest the 98.00 psychological level.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at the 97.95/98.00 zone, still a few pips below its opening price. USD/JPY opened the day below the 100-day SMA, which stands as initial resistance at 98.45, followed by 98.60 (hourly low Jul 26). On the other hand, supports are seen at 97.63 (daily low) and 97.23 (Jun 26 low) ahead of 96.95 (Jun 25 low).