23 Aug 2013
USD/JPY held by 99.00 resistence… for now
FXstreet.com (Barcelona) - Having steady climbed throughout the overnight session, USD/JPY tested, but failed to break key resistance at 99.00.
The pair, currently trading at 98.94, is up 0.25% on the days trading and posted a high at 99.15, but ultimately failed to break above the psychologically round resistance at 99.00. Overnight momentum was lead higher by the Nikkei 225 which closed up 2.21% during a quiet session for data. This morning has started with German GDP which has falllen in line with expectations at 0.7% Q2 QoQ. The UK docket follows next with BBA Mortgage Approvals, GDP and Total Investment at 08:30 GMT.
USD/JPY technically bullish?
The FXstreet Trend Index shows USD/JPY to be slightly bullish while the OB/OS Index is neutral. Classic pivot support can be found at 97.92, 97.13 and 96.68, while resistence lies ahead at 99.16, 99.61 and 100.40. The daily pivot sits at 98.37. Hourly oscillators are showing RSI is at 65 and close to overbought, while Stochastics at at 79 and moving out of overbought territory.
The pair, currently trading at 98.94, is up 0.25% on the days trading and posted a high at 99.15, but ultimately failed to break above the psychologically round resistance at 99.00. Overnight momentum was lead higher by the Nikkei 225 which closed up 2.21% during a quiet session for data. This morning has started with German GDP which has falllen in line with expectations at 0.7% Q2 QoQ. The UK docket follows next with BBA Mortgage Approvals, GDP and Total Investment at 08:30 GMT.
USD/JPY technically bullish?
The FXstreet Trend Index shows USD/JPY to be slightly bullish while the OB/OS Index is neutral. Classic pivot support can be found at 97.92, 97.13 and 96.68, while resistence lies ahead at 99.16, 99.61 and 100.40. The daily pivot sits at 98.37. Hourly oscillators are showing RSI is at 65 and close to overbought, while Stochastics at at 79 and moving out of overbought territory.