24 Sep 2013
USD/JPY's recovery capped at 99.00
FXstreet.com (San Francisco) - After bouncing at 98.50 and attempting to recover early losses, the USD/JPY has been rejected by the 99.00 again. Currently the USD/JPY is trading at 98.80, flat on the day.
The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and momentum are pointing to the south while the Stochastic and the MACD are neutral.
USD/JPY technical levels
If USD/JPY manages to regain the 99.00/05 area (psychological level/100-day SMA) next resistances could be found at 99.35 (Sep 23 high) and 99.65 (Sep 20 high). On the other hand, a decisive break below 98.50 could send the pair to 98.27 (Sep 2 low) en route towards 98.00 (psychological level).
The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and momentum are pointing to the south while the Stochastic and the MACD are neutral.
USD/JPY technical levels
If USD/JPY manages to regain the 99.00/05 area (psychological level/100-day SMA) next resistances could be found at 99.35 (Sep 23 high) and 99.65 (Sep 20 high). On the other hand, a decisive break below 98.50 could send the pair to 98.27 (Sep 2 low) en route towards 98.00 (psychological level).