29 Oct 2013
USD/JPY blows up the 98.00 resistance
FXstreet.com (San Francisco) - After an initial rejection at 98.00 and a retracement to 98.85 following ECB's Nowotny comments, the USD/JPY has jumped to volatilize the 98.00 resistance and to extend highs around 98.15.
Currently, the USDJPY is trading at 98.13, 0.47% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north side while the Stochastic is neutral.
Above the 98.00 area, the USD/JPY would face resistances are 98.20 and 98.50. On the downside, supports are at 97.80, 97.70 and 97.50.
Currently, the USDJPY is trading at 98.13, 0.47% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north side while the Stochastic is neutral.
Above the 98.00 area, the USD/JPY would face resistances are 98.20 and 98.50. On the downside, supports are at 97.80, 97.70 and 97.50.