30 Aug 2013
USD/JPY stabilizes above 98.00
FXstreet.com (New York) - The USD/JPY foreign exchange rate refused to fall back below the 98.00 region, though ultimately unable to shake its negativity thus far during US trading after the latest data release.
In the United States, Personal Spending (July) grew only +0.1%, missing estimates of +0.3%. Moreover, Core Personal Consumption Expenditure – Price Index (YoY) yielded a figure of +1.2% in July, matching expectations.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “Despite the USD/JPY’s attempt to rise, it is still stable below key resistance levels of the downside move as shown on graph. Trading below the referred to resistance level and below 98.60 force us to keep our negative expectations in the U.S. session today.”
USD/JPY technical levels
The USD/JPY is still entrenched in negative territory, to the tune of a -0.15% loss off its opening. At this juncture, the pair is testing the 98.18 mark. In terms of the technical levels, the USD/JPY remains buoyed by supports at 98.02, ahead of 97.67, and 97.48, notes the Mataf.net analyst team.
In the United States, Personal Spending (July) grew only +0.1%, missing estimates of +0.3%. Moreover, Core Personal Consumption Expenditure – Price Index (YoY) yielded a figure of +1.2% in July, matching expectations.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “Despite the USD/JPY’s attempt to rise, it is still stable below key resistance levels of the downside move as shown on graph. Trading below the referred to resistance level and below 98.60 force us to keep our negative expectations in the U.S. session today.”
USD/JPY technical levels
The USD/JPY is still entrenched in negative territory, to the tune of a -0.15% loss off its opening. At this juncture, the pair is testing the 98.18 mark. In terms of the technical levels, the USD/JPY remains buoyed by supports at 98.02, ahead of 97.67, and 97.48, notes the Mataf.net analyst team.