22 Oct 2013
USD/JPY consolidates comeback above 98 front
FXstreet.com (Chicago) - USD/JPY pulls off a comeback after falling to 97.87 session lows on market reactions to US job data. Minutes away from the American trading session closing, the pair attempts to protect the 98 level.
USD/JPY Technical Levels
Technically speaking, the pair extends the bullish channel despite earlier fall consolidating a reversal above the 98 zone. The pair is around the 38.20% Fibonacci level and is offered at 98.12. On the downside, supports are aligned at 98 (October 15th lows), 97.54 (October 18th lows) followed by 97.20 (October 8th highs) and the resistances set at 98.46 (session highs), 99 (October 15th highs) followed by 99.39 (September 16th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.
USD/JPY Technical Levels
Technically speaking, the pair extends the bullish channel despite earlier fall consolidating a reversal above the 98 zone. The pair is around the 38.20% Fibonacci level and is offered at 98.12. On the downside, supports are aligned at 98 (October 15th lows), 97.54 (October 18th lows) followed by 97.20 (October 8th highs) and the resistances set at 98.46 (session highs), 99 (October 15th highs) followed by 99.39 (September 16th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.