29 Oct 2013
USD/JPY attempts exit from 97.50 lows?
FXstreet.com (Chicago) - USD/JPY started Tuesday’s session weak falling to 97.54 lows shortly after the release of Japanese data.
USD/JPY Technical Levels
According to Valeria Bednarik, analyst at FXstreet.com “USD/JPY losses its upward momentum despite strong indexes, easing from a daily high of 97.77. The hourly chart shows indicators nearing their midlines, with 100 SMA still heading south despite below current price, now around 97.40. In bigger time frames, the technical stance is still quite neutral, with the upside limited by 98.40, 100 DMA.”
Technically speaking, the pair is offered at 97.55 and navigates between the supports aligned at 97.53 (October 18th lows), 97.15 (October 22nd lows) ahead of 96.81 (August 30th lows) and the resistances set at 97.71 (October 17th lows), 98 (October 18th highs) followed by 98.47 (October 22nd highs).
USD/JPY Technical Levels
According to Valeria Bednarik, analyst at FXstreet.com “USD/JPY losses its upward momentum despite strong indexes, easing from a daily high of 97.77. The hourly chart shows indicators nearing their midlines, with 100 SMA still heading south despite below current price, now around 97.40. In bigger time frames, the technical stance is still quite neutral, with the upside limited by 98.40, 100 DMA.”
Technically speaking, the pair is offered at 97.55 and navigates between the supports aligned at 97.53 (October 18th lows), 97.15 (October 22nd lows) ahead of 96.81 (August 30th lows) and the resistances set at 97.71 (October 17th lows), 98 (October 18th highs) followed by 98.47 (October 22nd highs).