1 Aug 2013
USD/JPY rising towards 99.00
FXstreet.com (London) - USD/JPY as closed the gap between last Fri close/Mon open and trades on the bid in the European opening hour towards 99.00 handle.
USD/JPY is bid again after dropping initially post FOMC disappointed where the pair fells from 98.40 to 97.70. The calendar today is again a busy one and the dollar will likely be the driver with European banks, BoE and ECB meeting later and accompanying supporting data releases. There are also a number of US data releases there after such as ISM Manufacturing PMI (Jul).
USD/JPY resistance
Rallies are likely to find initial resistance at 99.25/35 ahead of the 100.55 resistance line. The 20d ma is at 99.46, 50d ma at 98.84 and 200d ma is at 92.88. RSI reads (36.21) while supports ascending from 96.20 are 96.95, 97.24, 97.59, 98.25, 98.57. Spot comes as 98.70 with resistance 99.00, 99.25/35 and 100.00. Rallies have been blocked by the 100.55 resistance line before and the 101.60/78.6% retracement.
USD/JPY is bid again after dropping initially post FOMC disappointed where the pair fells from 98.40 to 97.70. The calendar today is again a busy one and the dollar will likely be the driver with European banks, BoE and ECB meeting later and accompanying supporting data releases. There are also a number of US data releases there after such as ISM Manufacturing PMI (Jul).
USD/JPY resistance
Rallies are likely to find initial resistance at 99.25/35 ahead of the 100.55 resistance line. The 20d ma is at 99.46, 50d ma at 98.84 and 200d ma is at 92.88. RSI reads (36.21) while supports ascending from 96.20 are 96.95, 97.24, 97.59, 98.25, 98.57. Spot comes as 98.70 with resistance 99.00, 99.25/35 and 100.00. Rallies have been blocked by the 100.55 resistance line before and the 101.60/78.6% retracement.