30 Jul 2013
USD/JPY eases back to familiar 98.00 level
FXstreet.com (New York) - The USD/JPY foreign exchange rate has eased back to the familiar 98.00 region Tuesday afternoon, unable to sustain any rise higher thus far.
At the time of writing, the USD/JPY is now settling at 98.05, and despite the recent easing today, still clings to a +0.11% advance above its opening. Technically speaking, the pair’s ascension will retest resistances at 98.30, onto 98.56, calculates the Mataf.net analyst team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY yesterday sold off to and bounced off the base of its cloud, this is today located at 97.49. Rallies are likely to find initial resistance at 99.25/35 ahead of the 100.67 resistance line.”
At the time of writing, the USD/JPY is now settling at 98.05, and despite the recent easing today, still clings to a +0.11% advance above its opening. Technically speaking, the pair’s ascension will retest resistances at 98.30, onto 98.56, calculates the Mataf.net analyst team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY yesterday sold off to and bounced off the base of its cloud, this is today located at 97.49. Rallies are likely to find initial resistance at 99.25/35 ahead of the 100.67 resistance line.”