1 Aug 2013
USD/JPY continues bid above 38.2% corrective
FXstreet.com (Barcelona) - USD/JPY is continuing to head towards the 99.00 handle ahead of key Us data coming up.
USD/JPY remains bid after dropping initially post FOMC disappointed where the pair fells from 98.40 to 97.70. Initial Jobless Claims (Jul 26) and ISM Manufacturing PMI (Jul) are next in focus while we have seen a limited reaction n the pair to BoE and ECB.
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 remains bid after dropping initially post FOMC disappointed where the pair fells from 98.40 to 97.70. Initial Jobless Claims (Jul 26) and ISM Manufacturing PMI (Jul) are next in focus while we have seen a limited reaction n the pair to BoE and ECB.
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.