9 Oct 2013
USD/JPY consolidates near highs
FXstreet.com (Córdoba) - The USD/JPY made a clean break back above 97.00 Wednesday and extended gains during the European session as the greenback recovers ground across the board, underpinned by Yellen's nomination to chair the Fed.
USD/JPY rose over 60 pips throughout the day and reached a weekly high of 97.46 before losing momentum and settling just below. Ahead of the Wall Street opening, USD/JPY is trading at the 97.35 zone, 0.5% above its opening price, with no much in the calendar other than the Fed minutes to be published at 18:00 GMT.
USD/JPY technical levels
In terms of technical levels, USD/JPY could face immediate resistances at 97.46 (daily high), 97.62 (10-day SMA) and 96.92 (Oct 3 high). On the other hand, supports could be found at 96.75 (200-day SMA) and 96.55 (Oct 8 low) and 96.00 (psychological level).
USD/JPY rose over 60 pips throughout the day and reached a weekly high of 97.46 before losing momentum and settling just below. Ahead of the Wall Street opening, USD/JPY is trading at the 97.35 zone, 0.5% above its opening price, with no much in the calendar other than the Fed minutes to be published at 18:00 GMT.
USD/JPY technical levels
In terms of technical levels, USD/JPY could face immediate resistances at 97.46 (daily high), 97.62 (10-day SMA) and 96.92 (Oct 3 high). On the other hand, supports could be found at 96.75 (200-day SMA) and 96.55 (Oct 8 low) and 96.00 (psychological level).